• Tweet

• Tweet

The story has been a far cry from John Travolta’s best dancing days on screen, but in the news this morning there’s no doubt that “Greece is the word.” Reporting indicates Grecian political leaders have at last struck a deal to garner 130 billion euro that will aid in bailing out the debt-laden nation. Early releases confirm that private creditors will receive a 50% cut from the country’s bonds.

Back on U.S. turf, a slightly lower Initial Jobless Claims report dispelled economists’ predictions, while the positive news from Greece has mortgage-backed securities feeling the pressure this morning.

What’s Up on Wall Street?

It was another moderately positive day for stocks yesterday, and when the closing bell was struck, all three indexes saw minor gains. The Dow Jones Industrial Average added 5.75 points (0.04 percent), and the S&P 500 climbed 2.91 points (0.22 percent). The biggest winner of the day was the Nasdaq Composite, which jumped 11.78 points (0.41 percent).

 Printer Friendly Version