18Jun2015 Market Close: Averages Close Higher After Trading Sideways All Afternoon, WTI Oil And U.S. Dollars Stable, Grexit Still Possible

Written by Gary

Afternoon markets traded mostly sideways at the plus 1 percent level on low to moderate volume levels. Short term indicators are 30% bullish, but that could change overnight. Savvy investors still concerned to what will happen if the Greeks go belly up. International News will move the markets over the next several sessions, volatility expected.

Liberal use of ‘Hopium’ is on the rise again as ‘Sheeples’ ‘hope’ the Greeks and the EU will just go away.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.
	Nasdaq Composite Hits Intraday Record As Stocks Soar The Nasdaq Composite Index climbed to its first intraday record in more than 15 years Thursday, lifted by a broad rally in stocks.
	Airbus steals show with last-minute $14 billion Wizz deal PARIS (Reuters) – Airbus won the Paris Airshow with a last-minute $14 billion deal to sell 110 jets to Hungary’s Wizz Air on Thursday, diverting attention from a growing industry debate over how quickly a record backlog of jet orders can be built.
	Euro Resilient Amid Greek Crisis Greece’s debt negotiations have taken a heavy toll on stocks and bonds in Europe, but the euro is on the rise.
	Euro zone sets emergency summit on Greece as money flees ATHENS/LUXEMBOURG (Reuters) – Euro zone leaders will hold an emergency summit on Monday to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped as Athens and its international creditors remain deadlocked over a debt deal.
	Oil up third day on dollar slump, U.S. crude draw data NEW YORK (Reuters) – Oil prices settled up for a third straight day on Thursday, boosted by a slipping dollar and reports that data showed a draw in crude this week at Cushing, Oklahoma, the delivery point for U.S. crude futures.
	Behind Chicago’s Rift With Moody’s Moody’s Investors Service’s move last month to downgrade Chicago’s credit rating to junk status highlights a tough new stance from the firm. Chicago’s mayor has called the move irresponsible; other municipalities are also dropping Moody’s.
	Small Crowds Get Their Day in Investing Sun New SEC rules starting Friday allow small investors to participate in equity crowdfunding, in which startups can raise up to $50 million through online campaigns.
	U.S. inflation stirring as energy-driven price plunge ebbs WASHINGTON (Reuters) – U.S. consumer prices in May recorded their largest increase in more than two years as gasoline prices surged, suggesting the drag on inflation from lower oil prices was fading.
	GM asking advisors for help rekindles FCA merger talk MILAN (Reuters) – General Motors seeking advice from investment banks shows it is taking an attempt by Fiat Chrysler Automobiles (FCA) to force a merger with its larger U.S. rival seriously, analysts and traders said.
	SEC Charges 36 Firms For Fraudulent Municipal Bond Offerings by Securities and Exchange Commission The Securities and Exchange Commission today announced enforcement actions against 36 municipal underwriting firms for violations in municipal bond offerings. The cases are the first brought against underwriters under the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative, a voluntary self-reporting program targeting material misstatements and omissions in municipal bond offering documents.
	Top tech fund likes data, chip shares as Nasdaq tops record NEW YORK (Reuters) – Out-of-favor networking and data centers look attractive as the Nasdaq Composite index breaks new records, said Kevin Landis, whose $133.4 million Firsthand Technology Opportunities fund is the top performing U.S. tech fund this year.
	Fed may hike just once in 2015 as Yellen strikes less certain tone SAN FRANCISCO/WASHINGTON (Reuters) – The question of how quickly the Federal Reserve should raise rates is dividing normally like-minded policymakers at the U.S. central bank, pitting those who favor two hikes this year against a growing number of those who want to stop at just one.
	Nasdaq tops dotcom high on buoyant data, Greece hopes (Reuters) – The Nasdaq Composite index surpassed the 15-year all-time high it set during the peak of the dotcom bubble as more data on Thursday showed the U.S. economy was gathering steam.
	Dollar Daze Not Over for Inflation Low inflation levels look likely to persist, with businesses having little ability to raise prices.