Consider this a resilient finish to a difficult week.
The drama-filled Greek debt deal was technically ruled a default, but in fact the country's private creditors agreed to take a nearly 75% haircut after exchanging their current bonds for new issues. Greece still has a long way to go; its economy contracted a horrifying 7.5% last year and after declining every year since 2008. One has to wonder if debt restructuring and more austerity measures can fix the underlying problem.
But a good jobs report that saw unemployment remain at 8.3% helped the Dow Jones Industrial Average
As good as the Dow's day was, JPMorgan Chase
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