Stocks turned in a strong performance during trading on Monday, moving back to the upside after coming under pressure in the previous session. The markets benefited from a positive reaction to the latest news out of Greece.
The major averages gave back some ground going into the close but still ended the day firmly in positive territory. The Dow rose 72.81 points or 0.6 percent to 12,874.04, the Nasdaq jumped 27.51 points or 1 percent to 2,931.39 and the S&P 500 climbed 9.13 points or 0.7 percent to 1,351.77.
The strength on Wall Street came on the heels of news that the Greek Parliament approved a highly unpopular package of austerity measures despite 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.
Nonetheless, trading activity was somewhat subdued 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) saw strength on the day, with the tech giant advancing by 1.9 percent. With the gain, Apple closed above $500 a share after first topping $400 in July of 2011.
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 saw some volatility on the day, eventually ending the session modestly lower. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 2.1 basis points to 1.99 percent.
With Regeneron Pharmaceuticals (REGN) leading the way higher, biotechnology stocks saw considerable strength on the day. Reflecting the strength in the biotech sector, the NYSE Arca Biotechnology Index jumped 2.5 percent after closing lower in the four previous sessions.
Shares of Regeneron surged up by 12.3 percent after the biopharmaceutical company reported a narrower than expected fourth quarter loss and raised its 2012 sales forecast for its key eye drug Eylea.
Airline stocks also showed a strong move back to the upside after coming under pressure last week, with the NYSE Arca Airline Index advancing by 2.6 percent. Despite the gain, the index remains well off the nearly seven-month closing high set earlier this month.
Significant strength was also visible among housing stocks, as reflected by the 2.2 percent gain posted by the Philadelphia Housing Sector Index. Health insurance, trucking, and banking stocks also saw notable strength, moving higher along with most of the major sectors.
Trading on Tuesday is likely to be driven by reaction to the Commerce Department's report on U.S. retail sales in the month of January. Reports on import and exports prices and business inventories may also attract some attention.
On the earnings front, Avon Products (AVP), Goodyear (GT), and Watson Pharmaceuticals (WPI) are among the companies due to report their quarterly results before the start of trading on Tuesday.
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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.