The market's three major indexes were all up slightly on Wednesday, with the Nasdaq leading the way:
Index | Change | Ending Value |
---|---|---|
Dow Jones Industrial Average |
+5.75 [+0.04%] | 12,883.95 |
Nasdaq |
+11.78 [+0.41%] | 2,915.86 |
S&P 500 |
+2.91 [+0.22%] | 1,349.96 |
For those who need their daily update on the Greece situation, Bloomberg reports word of a draft agreement involving Greece, the European Union, and the International Monetary Fund. As part of the permanent spending cuts, there would be a 20% drop in the minimum wage and lower pension payments. To put that in perspective, if the U.S. took a similar measure, its minimum wage would fall from $7.25 to $5.80.
Looking at the individual Dow components, only one of the 30 stocks rose or fell more 2% or more today: Bank of America
Aside from a general rally in the stock market, the large banks,including Bank of America and fellow Dow bank JPMorgan Chase
As you put the daily news in perspective and hunt for long-term buys, consider reading a free report I wrote called "The Stocks Only the Smartest Investors Are Buying." It details a bank much smaller than Bank of America that has some of the best operational numbers I've ever seen. Read the report and find out its name.