U.S. stocks on Wednesday extended their winning run to a third straight day as Greece approved debt-reduction measures and Wall Street prepped for closing the books on the second quarter.
“The market has been rallying, in theory at least, on Greece getting financial aid and trying to work its way out of the debt rash that they’re in,” said Paul Nolte, managing director at Dearborn Partners.
But the string of gains has come without much participation behind it, added Nolte, who noted that trading volume has been low “even by recent standards.”
Therefore, he attributes Wall Street’s rise as more to do with a “corrective rebound in front of a three-day weekend, along with end-of-quarter window dressing.”
Dow Jones Industrial Average
(DJI: ^DJI )| Index Value: | 12,261.42 |
|---|---|
| Trade Time: | 4:01PM EDT |
| Change: |  72.73 (0.60%) |
| Prev Close: | 12,188.69 |
|---|---|
| Open: | 12,187.63 |
| Day's Range: | 12,175.86 -12,284.39 |
| 52wk Range: | 9,596.04 -12,928.50 |
