US stocks surge ahead of Greek vote
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NEW YORK, June 15 AFP
June 16 2012, 06:10AM
US stocks have powered higher in the wake of Europe's market gains amid confidence that central banks will keep easy money flowing to smooth any turbulence following Greek polls and to offset slower growth.
Gains were registered across all sectors, as investors shrugged off worries of an imminent, turbulent Greek exit from the eurozone after the country elects a new government on Sunday.
At the closing bell the Dow Jones Industrial Average gained 114.66 points (0.91 per cent) to 12,766.57.
The broad-market S&P 500 climbed 13.65 (1.03 per cent) to 1342.75, while the tech-rich Nasdaq Composite added 36.47 (1.29 per cent) to 2872.80.
"The major equity averages have extended the prior session's advance, which was helped along by headlines purporting that central banks have been proactive in preparing for the possible need for a coordinated effort in the wake of weekend elections in Greece," said Briefing.com.
"Traders have also regarded a couple of doses of disappointing data as fodder for the Fed to take accommodative action when it meets next week."