US stocks closed broadly higher on Friday, with major indexes ending up more than 1 percent on hopes Greece would be able to secure fresh funding at an upcoming meeting, which would allow it to avert bankruptcy and remain in the euro zone. Indexes finished off their highs of the session after Federal Reserve Chair Janet Yellen said she expected the Fed to raise interest rates at some point this year, while expressing concern that the US labor market remained weak. Investors have long expected a rate hike in 2015, though opinions have been split on whether it would come in September or December. Yellen gave no direct hint about whether the U.S. central bank would raise rates more than once over the course of its four remaining meetings in 2015. The day’s gains were widespread, with all 10 of the S&P 500’s primary sectors higher on the day. Euro zone finance ministers will meet on Saturday to decide on a third bailout for Greece, which made substantial concessions in its latest proposal to lenders, including tax hikes, in hopes of receiving USD 59 billion to help it cover debts until 2018. “Investors are betting that a Greek deal will be struck by this Sunday, and that reduction of risk is boosting stocks today. The removal of the risk of an exogenous shock means better market psychology,” said Jim McDonald, who helps oversee USD 960 billion in assets as chief investment strategist at Northern Trust in Chicago. For the week, the Dow rose 0.17 percent while the S&P fell 0.01 percent and the Nasdaq ended down 0.23 percent in its third straight weekly decline. Equities were pressured earlier this week by a slowdown in China, weak commodity prices and uncertainty over the Greek debt crisis. Wall Street was also supported on Friday by a continued recovery in China’s equity market, which was helped by a barrage of government support measures. Chinese Premier Li Keqiang said the country would make more targeted changes to its policies to support the economy and promised to increase the transparency of China’s capital and money markets. The Bank of New York Mellon China’s index of Chinese shares traded in the United States rose 2.4 percent. The Dow Jones industrial average rose 211.79 points, or 1.21 percent, to 17,760.41, the S&P 500 gained 25.31 points, or 1.23 percent, to 2,076.62 and the Nasdaq Composite added 75.30 points, or 1.53 percent, to 4,997.70. The US quarterly earnings season kicked off this week, with Pepsi and Alcoa reporting better-than- expected sales. However, corporate earnings are estimated to have fallen 3.1 percent in the second quarter, according to Thomson Reuters data. Cablevision jumped 7.3 percent to USD 26.67 on a Wall Street Journal report that French billionaire Patrick Drahi was looking at cable targets for acquisitions. Zillow fell 7.7 percent to USD 78.67 a day after it said its chief financial officer was leaving to pursue other business interests.

1. Wall Street ends sharply higherWall Street ends sharply higher
in broad rallyin broad rally
Presentation by ShubhamPresentation by ShubhamPresentation by ShubhamPresentation by Shubham

2. Yellen gave no direct hint about whether the U.S. central
bank would raise rates more than once over the course of its
four remaining meetings in 2015. The day’s gains were
widespread, with all 10 of the S&P 500’s primary
sectors higher on the day. Euro zone finance ministers will
meet on Saturday to decide on a third bailout for Greece,
which made substantial concessions in its latest proposal to
lenders, including tax hikes, in hopes of receiving USD 59
billion to help it cover debts until 2018. “Investors are
betting that a Greek deal will be struck by this Sunday, and
that reduction of risk is boosting stocks today.

3. Wall StreetWall Street

4. The removal of the risk of an exogenous shock means better
market psychology,” said Jim McDonald, who helps
oversee USD 960 billion in assets as chief investment
strategist at Northern Trust in Chicago. For the week, the
Dow rose 0.17 percent while the S&P fell 0.01 percent and
the Nasdaq ended down 0.23 percent in its third straight
weekly decline. Equities were pressured earlier this week by a
slowdown in China, weak commodity prices and uncertainty
over the Greek debt crisis. Wall Street was also supported
on Friday by a continued recovery in China’s equity market,
which was helped by a barrage of government support
measures.

6. Chinese Premier Li Keqiang said the country would make moreChinese Premier Li Keqiang said the country would make more
targeted changes to its policies to support the economy and promisedtargeted changes to its policies to support the economy and promised
to increase the transparency of China’s capital and money markets. to increase the transparency of China’s capital and money markets.
The Bank of New York Mellon China’s index of ChineseThe Bank of New York Mellon China’s index of Chinese
shares traded in the United States rose 2.4 percent. The Dowshares traded in the United States rose 2.4 percent. The Dow
Jones industrial average rose 211.79 points, or 1.21 percent, toJones industrial average rose 211.79 points, or 1.21 percent, to
17,760.41, the S&P 500 gained 25.31 points, or 1.23 percent, to17,760.41, the S&P 500 gained 25.31 points, or 1.23 percent, to
2,076.62 and the Nasdaq Composite added 75.30 points, or 1.532,076.62 and the Nasdaq Composite added 75.30 points, or 1.53
percent, to 4,997.70. The US quarterly earnings season kickedpercent, to 4,997.70. The US quarterly earnings season kicked
off this week, with Pepsi and Alcoa reporting better-than- expectedoff this week, with Pepsi and Alcoa reporting better-than- expected
sales. However, corporate earnings are estimated to have fallen 3.1sales. However, corporate earnings are estimated to have fallen 3.1
percent in the second quarter, according to Thomson Reuters data.percent in the second quarter, according to Thomson Reuters data.

7. Wall StreetWall Street

8. Cablevision jumped 7.3 percent to USD 26.67 on a Wall StreetCablevision jumped 7.3 percent to USD 26.67 on a Wall Street
Journal report that French billionaire Patrick Drahi wasJournal report that French billionaire Patrick Drahi was
looking at cable targets for acquisitions. Zillow fell 7.7 percentlooking at cable targets for acquisitions. Zillow fell 7.7 percent
to USD 78.67 a day after it said its chief financial officer wasto USD 78.67 a day after it said its chief financial officer was
leaving to pursue other business interests. Advancing issuesleaving to pursue other business interests. Advancing issues
outnumbered declining ones on the NYSE by 2,456 to 623, for aoutnumbered declining ones on the NYSE by 2,456 to 623, for a
3.94-to-1 ratio on the upside; on the Nasdaq, 2,188 issues rose and3.94-to-1 ratio on the upside; on the Nasdaq, 2,188 issues rose and
595 fell for a 3.68-to-1 ratio favoring advancers. The benchmark595 fell for a 3.68-to-1 ratio favoring advancers. The benchmark
S&P 500 index posted 17 new 52-week highs and 15 new lows;S&P 500 index posted 17 new 52-week highs and 15 new lows;
the Nasdaq Composite recorded 83 new highs and 60 new lows. the Nasdaq Composite recorded 83 new highs and 60 new lows.
About 5.67 billion shares traded on all US platforms, accordingAbout 5.67 billion shares traded on all US platforms, according
to BATS exchange data, compared with the month-to-date averageto BATS exchange data, compared with the month-to-date average
of 7.03 billion.of 7.03 billion.

9. www.mcrworld.comwww.mcrworld.com

10. www.mcrworld.comwww.mcrworld.com