By The Associated Press
NEW YORK – Four days, 480 points. That’s how the Dow Jones industrial average closed the final four days of June. The Dow added more than 150 points on Thursday alone after Greece cleared the final hurdle needed to receive its next installment of emergency loans. A pickup in manufacturing around Chicago also pushed indexes higher.
The stock market’s gains put it on track for the best week since July of last year.
It was a stunning reversal from the beginning of the month, when the Dow dropped nearly 280 points in one day. The late surge was not enough to turn the broader stock market positive for the month, but it brought the Dow up 0.8 percent for the quarter. The Standard and Poor’s 500 index and Nasdaq composite each lost about 0.3 percent for the month.
The Dow rose 152.92 points, or 1.3 percent, to 12,414.34. The Samp&P 500 added 13.23, or 1 percent, to 1,320.64. The Nasdaq composite gained 33.03, or 1.2 percent, to 2,773.52.
Oil futures gained 65 cents to $95.42 a barrel on the New York Stock Exchange. Gold futures, which closed 0.5 percent higher at $1,502.80 an ounce on Thursday.