Friday, on renewed hopes that debt-laden Greece will reach a deal with its creditors this weekend and stave off an exit from the Eurozone, the Dow rose 212 points to 17,760. The S&P posted its biggest one-day gain in two months, but ended the week virtually flat. The benchmark index advanced 25 points to 2,077 and the Nasdaq rallied 75 to 4,998.
Investors expect the rest of 2015 to be a bumpy ride. The stock market has shifted to neutral lately, while bonds have gone into reverse. The oil market came roaring back in the second quarter, but more pain may be in store for investors. Mom-and-pop investors are putting on the brakes after years spent piling into stock and bond mutual funds-reflecting anxiety that the rally in capital markets is growing long in the tooth.
Puerto Rico’s long simmering debt crisis owes much to an economy that has been shedding jobs for years. Some of the blame for that, according to experts, stems from how the island lives under the same wage laws as the more prosperous 50 states.
Much more is highlighted in A Wall Street Wrap-up.
