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Negotiations on both sides of the Atlantic Ocean, between Greece and its lenders and between big U.S. banks and the federal government, boosted the willingness of investors Thursday to move into risk assets, many of which posted gains.
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Leaders of Greece's coalition government accepted the additional tax hikes, budget cuts and reductions in the minimum wage necessary for the European Central Bank, the European Commission and the International Monetary Fund to give the debt-choked nation $172 billion so it can avoid a default.
In the U.S., talks between the Justice Department and 49 states, on the one hand, and the nation's top five banks, on the other hand, concluded with the banks agreeing to pay $26 billion to end an investigation into improper mortgage foreclosures.
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Here's a look at how markets did:
Stocks. Major Asian stock indexes fell, while European indexes all rose on news of successful Greek debt negotiations.
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In the U.S., the Dow Jones Industrial Average closed at 12,890.16, up 6.66 or 5 basis points, the Nasdaq Composite was up 39 basis points to 2,927.23 and the S&P 500 Index rose 1.99 or 15 basis points to close at its seven-month high of 1,351.95.
Bonds.U.S. Treasuries extended the week's losses as investors opted for riskier assets. The yield on the benchmark Treasury rose 3.65 percent. The bond price declines followed comments by legendary investor Warren Buffet and Laurence D. Fink, CEO of hedge fund BlackRock Inc., warning about the dangers of bonds.
Commodites. Crude oil rose 1.14 percent to nearly $100 per 42-gallon barrel, while copper climbed 1.59 percent. Gold and silver rose 0.6 percent. Agricultural commodities fell, with coffee, corn, live cattle, soybeans, sugar and wheat all down.
Currencies. The euro topped $1.33 and the dollar pared recent losses on an index that gauges the greenback against a basket of rival currencies. Other strengthening currencies included Chile's peso, India's rupee and the Australian dollar.
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