Stocks moved notably higher at the start of trading on Monday, as traders reacted positively to the latest news out of Greece. The major averages all showed strong moves to the upside, offsetting the modest losses posted last week.
The major averages have pulled back off their highs for the young session in the past few minutes but remain firmly positive. The Dow is up 52.75 points or 0.4 percent at 12,853.98, the Nasdaq is up 19.80 points or 0.7 percent at 2,923.68 and the S&P 500 is up 6.61 points or 0.5 percent at 1,349.25.
The initial strength on Wall Street came on the heels of news that the Greek Parliament approved a highly unpopular package of austerity measures amid nationwide protests on Sunday.
The vote is expected to 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.
Peter Boockvar, equity strategist at Miller Tabak, said, "From a U.S. stock market perspective, outside of Friday's worry with Greece, the straight line upward move over the past two months reflected a lack of concern that a deal wouldn't happen and today we'll get to see what's been priced in with Greece."
Nonetheless, trading activity is 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.
Airline stocks are seeing significant strength in early trading after giving back some ground last week. The NYSE Arca Airline Index is up by 1.4 percent but remains off the nearly seven-month closing high set earlier this month.
Biotechnology, steel, and banking stocks are also posting notable gains, moving to the upside along with most of the major sectors.
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 are also showing notable moves to the upside on the day. While the French CAC 40 Index is up by 0.8 percent, the U.K.'s FTSE 100 Index and the German DAX Index are both up by 0.9 percent.
In the bond market, treasuries are seeing modest weakness amid the latest news out of Greece. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 1.7 basis points at 1.986 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.