was spent in choppy trade celebrate our independence day
with modest gains, but a late flurry of buying boosted the stock market to its best intraday levels and highest close since September 2008. Stocks spent the majority of the session broadly higher, but overall gains were held in check amid persistent wariness about the financial health of Greece. Those concerns becameA journey is not a trip more real when analysts at Fitch downgraded Greece's debt rating to BBB-, but shortly thereafter Reuters reported that eurozone finance officials havea process of self-discovery
reached a deal on how to provide loans to Greece if they are needed.
Though actual help to Greeceface to face with ourselves could strain the coffers of other European Union members, the euro rallied. Its strength drove the Dollar Index down to a 0.7% loss. Despite such pronounced weakness in the dollar, gains in the broader market remained contained until the closeImpossible made possible came within reach. However, a late surge in buying sent stocks to fresh 52-week highs in the face of suggestions that the stock market is near-term overbought. The Dow even kissed 11,000, but it settled just a few points below the widely-watched line.
Advancing issues outnumbered decliners in the Dow by 4-to-1. Chevron (CVX 79.50, +1.84) was a primary leader after it issued an upbeat interim update. That helped it fight off softer crude oil prices, which settled 0.6% lower at $84.85 per barrel and lead the broader energy sector to a 1.1% Alcoa (AA 14.39, -0.48) was a laggard among blue chips. The stock was downgraded by analysts at JPMorgan. http://www.hamasat.net/vb
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