New Record Closing Highs for Dow and S&P as Euro Zone Negotiates Interim Deal on Greece
February 23, 2015 6:43 am
Asian shares were flat on Monday as many countries in the region returned from Lunar New Year holidays, with sentiment supported by relief that Greece reached a deal to avert an immediate fiscal crisis. The Dow and S&P 500 ended at record highs on Friday while the Nasdaq notched an eighth straight day of gains after Greek and Euro zone finance ministers reached a deal to extend heavily indebted Greece’s financial rescue by four months. The Dow closed 154 points higher at 18,840 the S&P500 closed 12 points higher at 2,110.
The Euro traded at $1.1377, little changed from Friday’s late U.S. levels and within its well worn trading range of the past few weeks centring around $1.13-1.15. The Yen was also steady for much of the session, trading at 118.95 Yen against the Dollar, after a rise in U.S. Treasury yields after the Greek bailout agreement on Friday helped the U.S. unit climb off a low of 118.30 Yen.
Oil prices wobbled, as cautious optimism about the Greek debt deal struggled to offset supply concerns. Brent pared gains and was slightly higher at $60.24 a barrel, while U.S. WTI crude erased its earlier rise and dropped about 0.3% to $50.66.
Within the equity space, State-backed Lloyds Banking Group said on Monday that the British government had reduced its stake in the bank to 23.9% from 24.9% previously. The stock was up 1% in early trade at 78p per share.
Asian shares were flat on Monday as many countries in the region returned from Lunar New Year holidays, with sentiment supported by relief that Greece reached a deal to avert an immediate fiscal crisis. The Dow and S&P 500 ended at record highs on Friday while the Nasdaq notched an eighth straight day of gains after Greek and Euro zone finance ministers reached a deal to extend heavily indebted Greece’s financial rescue by four months. The Dow closed 154 points higher at 18,840 the S&P500 closed 12 points higher at 2,110.
The Euro traded at $1.1377, little changed from Friday’s late U.S. levels and within its well worn trading range of the past few weeks centring around $1.13-1.15. The Yen was also steady for much of the session, trading at 118.95 Yen against the Dollar, after a rise in U.S. Treasury yields after the Greek bailout agreement on Friday helped the U.S. unit climb off a low of 118.30 Yen.
Oil prices wobbled, as cautious optimism about the Greek debt deal struggled to offset supply concerns. Brent pared gains and was slightly higher at $60.24 a barrel, while U.S. WTI crude erased its earlier rise and dropped about 0.3% to $50.66.
Within the equity space, State-backed Lloyds Banking Group said on Monday that the British government had reduced its stake in the bank to 23.9% from 24.9% previously. The stock was up 1% in early trade at 78p per share.
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