Nasdaq composite ends day with record
NEW YORK – U.S. stocks rallied Thursday, with the Nasdaq composite index closing at a record, a day after the Federal Reserve signaled it will continue to support the economy even as growth picks up.
The Nasdaq climbed 1.3 percent to 5,132.95, topping its record in May.
The S&P 500 index added 1 percent to 2,121.24, rising for a third straight day. The Dow Jones industrial average rose 180.10 points, or 1 percent, to 18,115.84.
The Russell 2000 Index advanced 1.3 percent to an all-time high.
About 6.8 billion shares changed hands on U.S. exchanges, 8.3 percent above the three-month average.
EU summit set to try to reach deal on debt
LUXEMBOURG – The eurozone’s 19 leaders will meet in an emergency summit next week to seek a breakthrough in Greece’s bailout after talks Thursday ended in acrimony, intensifying fears that the Mediterranean country was heading for bankruptcy and an exit from the euro.
Donald Tusk, who chairs meetings of European leaders, called an emergency eurozone summit for Monday evening to “urgently discuss the situation of Greece at the highest political level.”
That means Greece’s prime minister, Alexis Tsipras, will face off with his peers from the European Union, including German Chancellor Angela Merkel.
The decision to call the summit is a clear sign that relations between Greece and its creditors are as strained as at any time during the protracted bailout talks.
The eurozone’s top official, Jeroen Dijsselbloem, said no progress was made in discussions held among finance ministers in Luxembourg on Thursday.
He said Greece proposed too few measures that are credible and serious.
Associated Press and Bloomberg News
