Thursday's midday trade: economy, Greek deal hopes lift stocks

Wall Street stocks rose on Thursday on the latest signs of an improving US economy and optimism a Greek bailout deal would be agreed next week. Equity indexes continued to trade in tight ranges, with the S&P 500 near a nine-month high. The Dow Jones industrial average added 109.13 points, or 0.85 percent, to 12,890.08.
The S&P 500 Index gained 10.52 points, or 0.78 percent, to 1,353.75. The Nasdaq Composite rose 26.00 points, or 0.89 percent, to 2,941.83. Bank shares rose, brushing off a warning from Moody's about possible downgrades to the credit ratings of 17 global and 114 European financial institutions. Among the ratings threatened were those of Goldman Sachs, up 1.2 percent at $114.50, and Bank of America, up 2.8 percent at $8. The KBW bank index rose 1.7 percent. Apple shares, which largely dictated the direction of Wednesday's stock market, were off 1.1 percent at $492.24.