Investors responded positively on the possible solution between Greece and the European Central Bank, the International Monetary Fund and the European Commission. The Dow Jones closed 1.33% higher at 18,000 points, the S&P 500 gained 1.2% to 2105 points and the Nasdaq closed at an increase of 1.25% with 5,076 points.
According to research done by ETF Securities, the US economy will continue to recover despite a weak first quarter this year. The report also stated that the volatility on the USD exchange rate is mainly caused by the uncertainty on the US monetary policy. They also point out that if the economy continues to recover, the Federal Reserve will raise official interest rates in September 2015.
The Greek President Alexis Tsipras has asked for an extension of nine months of the current support plan. This was confirmed by multiple newspapers after talks ended between Tsipras, German Chancellor Angela Merkel and French President François Hollande early this morning.
The 6M Euribor remained unchanged at 0.05%. The 10Y Swap increased by 5 basis points to 1.33%.
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