Stocks rise as second Greece rescue looks likely

July 3rd. 2011, 3:19pm

Greek lawmakers have voted to pass a second austerity law that will allow international lenders to release more emergency loans. Optimism about averting

a widespread European debt crisis has sent markets higher since

Monday.

Slightly fewer people applied for unemployment benefits last week, but the level of applications remains high. Worries about the economy have

pushed stocks lower since late April. The S&P 500 index is still down for the second quarter, which ends today.

The Dow Jones industrial average is up 72 points, or 0.6 percent, at 12,333, in early trading. The S&Ps 500 is up 5, or 0.3 percent, at 1,311. The

Nasdaq composite is up 17, or 0.6 percent, at 2,757.

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