NEW YORK: EU ministers' agreement on a massive new Greek bailout after months of tension sent US stocks higher in opening trade Tuesday.
The Dow Jones Industrial Average added 28.99 points (0.22 percent) to 12,978.86 in the first five minutes of trade.
The broad-based S&P 500 rose 3.41 points (0.25 percent) to 1,364.64.
The Nasdaq Composite gained 4.82 (0.16 percent) to 2,956.60.
Early Tuesday the European Union reached a deal on the new bailout of Greece which included a 107 billion euro ($141 billion) writedown of the country's debt by private debt holders and 130 billion euros in new financing from the EU and the International Monetary Fund.
"Chalk one up for European leaders as they were finally able to agree to the second bailout package for Greece. Now the hard work begins -- reinventing Greece's economy," said Scott Atkinson of Briefing Research.
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