Stocks closed higher for the third day in a row Wednesday after Greece cleared a hurdle toward getting more emergency loans. Financial stocks rose after Bank of America reached a settlement with investors over failed mortgage securities.
Greek lawmakers passed an austerity bill that brought the country closer to getting a financial backstop it needs to avoid defaulting on its debt. A default by Greece would shock global markets and freeze lending to other heavily indebted European countries.
The Dow Jones industrial average rose 72.73 points, or 0.6 percent, to close at 12,261.42.
The Standard & Poor's 500 index rose 10.74, or 0.8 percent, to 1,307.41.
The Nasdaq composite rose 11.18, or 0.4 percent, to 2,740.49.
For the week:
The Dow is up 326.84, or 2.7 percent.
The S&P is up 38.96, or 3.1 percent.
The Nasdaq is up 87.60, or 3.3 percent.
For the year to date:
The Dow is up 683.91, or 5.9 percent.
The S&P is up 49.77, or 4.0 percent.
The Nasdaq is up 87.62 points, or 3.3 percent.