US Stocks Rise on Greek Deal Hopes

NEW YORK (AP) --- U.S. stocks are posting solid gains in midday trading as Greece moves closer to sealing a deal for new loans from its creditors.

European markets also rose sharply. China's also stock indexes climbed for a second day, reversing course after a monthlong slump.

The Dow Jones industrial average gained 230 points, or 1.3 percent, to 17,782 as of 11:50 a.m. Eastern time Friday.

The Standard & Poor's 500 index increased 27 points, or 1.3 percent, to 2,078 and the Nasdaq composite climbed 75 points, or 1.5 percent, to 4,997.

The gains were broad. Four stocks rose for every one that fell on the New York Stock Exchange.

Airline stocks rallied. American Airlines rose 3 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.39 percent.

(KA)