Stocks continue to see moderate strength in mid-day trading on Monday, although buying interest has waned from earlier in the session. The markets continue to benefit from a positive reaction to the latest news out of Greece.
After pulling back off their early highs, the major averages have moved back to the upside in recent trading. The Dow is up 60.96 points or 0.5 percent at 12,862.19, the Nasdaq is up 23.16 points or 0.8 percent at 2,927.04 and the S&P 500 is up 7.72 points or 0.6 percent at 1,350.36. Much of the strength among stocks stems from news that the Greek Parliament has approved a highly unpopular package of austerity measures amid nationwide protests.
The vote is expected to help pave the way for the debt-plagued nation to receive a new 130 billion euro bailout, although the ongoing protests have raised some questions about the implementation of the plan.
The new bailout would give Greece sufficient funds to repay a 14.5 billion euro bond due on March 20th. Last week, European finance ministers called on Greece to find a further 325 million euros in savings in order to receive the bailout money.
While the Greek news contributed to an early rally on Wall Street, traders seemed reluctant to continue buying stocks ahead of the release of a slew of U.S. economic data later in the week.
Reports on retail sales, industrial production, housing starts, jobless claims, and consumer and producer price inflation are likely to be in focus.
Among individual stocks, shares of Apple (AAPL) are seeing some strength on the day, with the tech giant up by 1.2 percent. Earlier in the session, Apple reached a high above $500 a share after first topping $400 in July of 2011.
Sector News
Biotechnology stocks are turning in some of the market's best performances in mid-day trading, with the NYSE Arca Biotechnology Index up by 2.4 percent. The index is regaining ground after closing lower in the four previous sessions but remains off the six-month closing high set last Monday.
Regeneron Pharmaceuticals (REGN) is helping to lead the biotech sector higher and is currently up by 13.1 percent after reaching a record intraday high The gain by Regeneron comes after the company raised its 2012 sales forecast for its key eye drug Eylea.
Significant strength is also visible among airline stocks, which are also moving back to the upside after moving lower over the past few sessions. The NYSE Arca Airline Index is up by 1.8 percent amid strong gains by US Airways (LCC) and Delta Air Lines (DAL).
Health insurance, banking, and housing stocks are also posting notable gains, moving to the upside along with most of the major sectors. On the other hand, moderate weakness has emerged among gold stocks.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Monday. Japan's Nikkei 225 Index rose by 0.6 percent, while Hong Kong's Hang Seng Index ended the day up by 0.5 percent.
The major European markets also saw strength on the day but closed off their best levels. While the U.K.'s FTSE 100 Index advanced by 0.9 percent, the German DAX Index rose by 0.7 percent and the French CAC 40 Index edged up by 0.3 percent.
In the bond market, treasuries have shown a lack of direction over the course of the trading day. The yield on the benchmark ten-year note, which moves opposite of its price, is up by 1.2 basis points at 1.981 percent.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.