Wednesday's early afternoon trade: Greek hopes push stocks higher

US stocks advanced on Wednesday after the Greek parliament approved austerity measures, taking an important step in the country's bid to gain access to international funding to avoid default. Optimism over the plan's approval in Greece has pushed the benchmark S&P 500 to its best three-day performance in three months.
The CBOE Volatility Index, Wall Street's "fear gauge" known as the VIX, fell 9.2 percent to 17.41, its third straight decline. The Dow Jones industrial average gained 82.83 points, or 0.68 percent, to 12,271.52. The Standard & Poor's 500 Index rose 11.10 points, or 0.86 percent, to 1,307.77. The Nasdaq Composite Index climbed 14.94 points, or 0.55 percent, to 2,744.25.