Consumer confidence fell in June but the markets advanced during the midday with the Dow surging 125 points to 12,168 over optimism that Greece will avoid a default by approving new austerity measures. Nasdaq soared 31 points to 2720.
On the upside
Nike (NYSE: NKE) reported higher fourth quarter earnings that beat analyst expectations as revenue rose.
Bargain hunters lifted shares of Renren (NYSE: RENN), whose shares have dropped recently as investors shunned Chinese stocks.
Monster Worldwide (NYSE: MWW) launched its BeKnown professional networking application for Facebook.
Muddy Waters questioned Spreadtrum's (Nasdaq: SPRD) financial statements and disclosed a short position in the chip maker.
Shares of Altria (NYSE: MO) fell after the Supreme Court decided not to review a $241 million judgment with an additional $37 million in interest against the tobacco industry requiring tobacco companies to pay for a Louisiana anti-smoking campaign.
JPMorgan's (NYSE: JPM) China venture received a permit to enter the securities market in China but the stock price fell.
