FYI: Bureaucrats in Europe appeared ready to kick the can down the road on Greece. That seemed to be enough to nudge the S&P 500 modestly higher to another record close. Attention was fixed on the Athens government and its talks with creditors. Stocks mustered a rally in the afternoon after reports that Greece is poised to maybe request a six-month loan extension. Traders said the real action was in U.S. stock sectors that are most vulnerable to rising rates, namely utilities, which continued to fall sharply in tandem with bonds. Minutes from the Federal Reserve’s most recent policy meeting are due Wednesday, potentially (but improbably) shedding light the central bank’s rate agenda. Gold had a dismal day.
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2015/02/17/etf-market-vital-signs-feb-17-almost-maybe-a-deal-to-postpone-hard-decisions-in-greece/tab/print/
