Wall Street was trading higher before the close of trading today on optimism Greece would approve an aid-for-reforms deal and amid strong U.S. retail sales, which lifted the U.S. dollar and raised bets the Federal Reserve will raise interest rates this year.
The S&P 500 (INDEXSP:.INX) gained 0.2 percent to 2,109.92 at 3:45 p.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) advanced 0.2 percent to 18,044, while the tech-heavy Nasdaq 100 (INDEXNASDAQ:NDX) rose 0.1 percent to 5,082.
A International Monetary Fund's delegation broke off talks in Brussels and flew home because of major differences with Athens. A Greek government spokesman later said Greece wants to step up negotiations.
U.S. retail sales rose 1.2 percent in May after an upwardly revised 0.2 percent gain in April, the Commerce Department said, as households boosted purchases of automobiles and other goods.
MOVERS:
Nike (NYSE:NKE) rose 0.6 percent to $103.97 after news late yesterday that the sportswear maker will replace rival Adidas to become official on-court uniform and apparel provider of the National Basketball Association (NBA).
Amgen (NASDAQ:AMGN) rose 1.6 percent to $158.20, a day after an advisory panel to the U.S. Food and Drug Administration recommended approval of its cholesterol-lowering drug.
Krispy Kreme Doughnuts (NYSE:KKD) rose 13 percent to $19.66 after the food company posted a stronger-than-expected adjusted profit of 24 cents a share late yesterday.
Lululemon (NASDAQ:LULU) fell 1.4 percent to $65.83. Founder Dennis “Chip” Wilson is selling his family’s entire stake in the retailer, parting ways with the yoga-gear maker after more than a year of tense relations.
Men's Wearhouse (NYSE:MY) jumped 5.3 percent to $61.65. Men's Wearhouse reported adjusted quarterly profit of 54 cents per share, beating estimates by 2 cents, with revenue also above forecasts.
HealthSouth (NYSE:HLS) gained 9.9 percent to $47.58 agreed to acquire Reliant Hospital Partners LLC for $730 million, expanding the company’s presence in Texas, Massachusetts and Ohio.
Box (NYSE:BOX) jumped 2.2 percent to $18.20 after the cloud-storage company reported better-than-expected quarterly results and provided an upbeat outlook.
Hess (NYSE:HES) rose 4.8 percent to $68.77 after saying it will create a joint venture–valued at $5.35 billion–of lucrative Bakken midstream assets with Global Infrastructure Partners.
COMMODITIES:
Gold for August delivery on Comex fell 0.5 percent to settle at $1,180.40 an ounce.
Light, sweet crude for July delivery settled down 1.1 percent to $60.77 a barrel on the New York Mercantile Exchange.
OTHER MARKETS:
European shares rose, with the auto sector gaining on an upbeat forecast from Daimler, while Greek shares rallied 8.2 percent on hopes a resolution to its nagging debt woes was near.