Stocks Gain on Greek Deal & Data

GCG Weekly Market Update – August 17, 2015

Despite significant volatility, stocks ended last week higher after a finalized Greek bailout deal and some upbeat domestic economic data. For the week, the S&P 500 gained 0.67%, the Dow grew 0.60%, and the NASDAQ added 0.09%. (1)

Greece finally clinched a third bailout from creditors when its parliament approved the deal and Germany backed off its opposition to the terms. The deal isn’t perfect and the International Monetary Fund is refusing to participate until there is an agreement on debt relief from Greece’s Eurozone creditors. (2)  However, U.S. investors greeted the news that Greece will remain in the monetary union with a sigh of relief. Is the Greek drama finally over? Probably not for long.

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01 https://finance.yahoo.com/q/hp?s=%5EIXIC&a=00&b=1&c=2015&d=07&e=14&f=2015&g=d
01 https://finance.yahoo.com/q/hp?s=%5EDJI&a=00&b=1&c=2015&d=07&e=14&f=2015&g=d
01 https://finance.yahoo.com/q/hp?s=%5EGSPC&a=00&b=1&c=2015&d=07&e=14&f=2015&g=d
02 http://www.theguardian.com/business/2015/aug/14/greece-edges-third-bailout-positive-signals-germany

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