The market's three major indexes were all up slightly on Wednesday, with the Nasdaq leading the way:
Dow Jones Industrial Average
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.
Anand Chokkavelu owns shares of Bank of America, JPMorgan Chase, Wells Fargo, and Citigroup. He also owns warrants in JPMorgan Chase, Wells Fargo, and Citigroup, and long-dated options in Bank of America. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.