Nasdaq Tops Record on Tech Rally; Europe Shares Gain on Greece
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The Nasdaq Composite Index rallied the most since January, closing at a record as Broadcom Corp. led a surge in technology shares. Optimism that Greece made progress with creditors boosted European stocks to a one-month high.
The Nasdaq Composite jumped 1.5 percent by 4 p.m. in New York, while the Standard & Poor’s 500 Index climbed 0.9 percent for its biggest advance in two weeks. Both gauges rebounded after sliding Tuesday by the most since May 5. The Stoxx Europe 600 Index gained 1.3 percent, halting a three-day decline. Yields on 10-year Greek bonds tumbled 79 basis points, while the country’s ASE Index surged 3.6 percent. The Bloomberg Dollar Spot Index maintained gains. Brent oil and sugar slumped.