The Ticker

Dow, S&P finish at record highs again

The Dow and S&P 500 ended at record highs yesterday while the Nasdaq notched an eighth straight day of gains after Greek and eurozone finance ministers reached a deal to extend heavily indebted Greece's financial rescue by four months.

The Nasdaq matched an eight-session winning streak from a year ago and inched closer to its 5,132.52 all-time intraday high, reached in March 2000 just before the dot-com bubble burst.

The Dow Jones industrial average rose 154.67 points, or 0.86 percent, to 18,140.44, the S&P 500 gained 12.85 points, or 0.61 percent, to 2,110.3 and the Nasdaq Composite added 31.27 points, or 0.63 percent, to 4,955.97.

For the week, the Dow was up 0.7 percent, the S&P 500 was up 0.6 percent and the Nasdaq was up 1.3 percent.

Intuit Inc was among the Nasdaq's biggest positives, rising 6.2 percent to $96.72 a day after reporting a smaller-than-expected quarterly loss.

Shares of Nordstrom climbed 6 percent to $81.74 and the stock was among the S&P 500's biggest percentage gainers, following its results.

Greece, eurozone reach agreement

After weeks of recrimination and distrust, Greece and its creditors in the 19-nation eurozone reached an agreement yesterday on extending the country's rescue loans, a move that should dramatically ease concerns it was heading for the euro exit as soon as next month.

The agreement, which looked a long way off Thursday when one German official compared Athens' request for more time to the infamous Trojan Horse, will mean that Greece will avoid going bankrupt, at least over the four months of the extension. It should also mean that capital controls won't be needed and that Greek banks will have enough money to stock up their ATMs.

To get the money though, the Greek government has one more hurdle to clear. On Monday, it has to present a series of unspecified economic reform measures that are deemed acceptable by creditors and rooted in Greece's previously enacted bailout agreement — something the government had promised not to do.

Still, the Greek government will be the author of the reforms pursued and that represents a change from the past five years when Greece has relied on rescue money to avoid going bankrupt and was effectively ordered to enact a series of austerity measures.

• Rodman & Rodman P.C., a full service CPA firm based in Newton, serving small and medium-sized companies, has named Jeff Biesadecki, left, a Certified Public Accountant, as tax supervisor. In his new role, Biesadecki will oversee the accounting staff who are responsible for tax preparation and tax planning for individuals and entities.

Biesadecki was a senior tax accountant at Newburg & Co. in Waltham.

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