Wall Street stocks rose higher on Monday, joining a global equities rally after a new bailout deal Greece reached a tentative will avoid the country out of the euro zone.
Dow Jones Industrial Average surged 217,27 points (1.22 percent) to close at 17.977 .68.
The index is a broad-based S&P 500 surged 22,98 points (1.11 percent) to end at 2.099 .60 while the Nasdaq technology composite index increased 73,82 points (1.48 percent) to 5,071 .51.
After grueling talks for 17 hours, the Prime Minister of Greece Alexis Tsipras received a series of tough reforms demanded by the official creditors in Exchange for new financing that would allow that country avoid default (default) and prevent it from coming out of the euro zone.
Brent Schutte, a market strategist at BMO's Private Bank, said the higher movement on Monday helped the rally.
This is a "step closer toward maintaining Greece's currency unions," he said.
Banking stocks surged ahead of the earnings report from JPMorgan Chase and Wells Fargo, which each rose 1.6 percent and 1.2 percent. Shares of Citigroup rose 1.8 percent and Bank of America rose 1.9 percent.
Technology stocks surged, including an Apple rising 1.9 percent, Amazon increased 2.7 percent, rose 2.4 percent of Facebook, Netflix jumped 4.0 percent and strengthens Priceline 2.5 percent. The company's natural gas processing MarkWest Energy Partners surged 14.0 percent, because the news would be acquired by a unit of Marathon Petroleum worth 15.8 billion u.s. dollars.
Shares of Marathon rose 7.9 percent. Pharmaceutical company Depomed climbed 1.2 percent after enacting a "poison pill" defenses to block third party taking a majority stake in the company. This step following the unsolicited offer from Horizon Pharma to buy Depomed about three billion u.s. dollars. Horizon fell 2.7 percent.
Anacor Pharmaceuticals surged 55.9 percent after the release of the initial positive clinical results for ointment Crisaborole dermatitis. The company plans to file a new drug application in 2016.
Ascena Retail Group, which operate on Dress Barn, Lane Bryant and other clothing store chain, slumped 8 percent after it cut its full year profit forecasts to 57-60 cents per share of 70-75 cents per share.
The prices of bonds fall. Yields on u.s. Government bonds, 10-year futures rose to 2.44 percent from 2.40 percent on Friday, while 30-year bonds rose to 3.19 percent from 3,22 percent. Bond prices and yields move in opposite directions. https://www.mql5.com/en/signals/111434
