US STOCKS-Dow, S&P 500 at intraday highs on Greece debt deal news

viernes 20 de febrero de 2015 16:02 GYT
 

* Intuit rises after results

* Indexes up: Dow 0.7 pct, S&P 0.4 pct, Nasdaq 0.4 pct (Updates to late afternoon)

By Caroline Valetkevitch

NEW YORK, Feb 20 (Reuters) - U.S. stocks rose on Friday in a relief rally after Greece and euro zone finance ministers reached a deal to extend heavily indebted Greece's financial rescue by four months.

News of the agreement, which removes the immediate risk of Greece running out of money next month and possibly being forced out of the single currency area, lifted U.S. indexes to session highs, with the Dow and S&P 500 both hitting intraday peaks.

The Nasdaq was set for its eighth session of gains as it approached its March 2000 all-time high.

Investors had been waiting for signs of progress in negotiations over the Greece debt situation, with the uncertainty triggering caution among market participants. Officials stressed that there was still no formal agreement in the full meeting of the Eurogroup of 19 finance ministers.

"The rally is as much as anything a relief rally. It's one less worry that can be checked off," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.

Shares of the Global X FTSE Greece 20 exchange-traded fund jumped 10 percent, while U.S.-listed shares of the National Bank of Greece were up 18.6 percent at $1.91.   Continuación...