After moving notably higher in early trading on Tuesday, stocks have seen some further upside over the course of the trading day. The major averages have climbed firmly into positive territory, with the Nasdaq reaching its best intraday level in three weeks.
The strength on Wall Street comes as traders continue to express optimism that the Greek parliament will vote in favor of a package of spending cuts and tax increases that the debt-plagued nation needs to pass in order to receive additional financial assistance.
Energy stocks are seeing considerable strength on the day, benefiting from a notable increase by the price of crude oil, which is rising by more than $1 a barrel. Oil service stocks are posting particularly strong gains, driving the Philadelphia Oil Service Index up by 3.5 percent.
Significant strength also remains visible among health insurance stocks, as reflected by the 2.8 percent gain currently being shown by the Morgan Stanley Healthcare Payor Index. Biotechnology, steel, and networking stocks are also posting notable gains on the day.
While the Dow has moved roughly sideways in recent trading, the Nasdaq and the S&P 500 have reached new highs. The Dow is currently up 120.91 points or 1 percent at 12,164.47, the Nasdaq is up 34.63 points or 1.3 percent at 2,722.91 and the S&P 500 is up 13.71 points or 1.1 percent at 1,293.81.
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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.