Stocks Closed with Biggest Gains in a Month

U.S. stocks rallied on Wednesday, with the S&P 500 and Dow industrials posting their biggest one-day gains in a month, as traders cheered progress in Greece’s negotiations with its international creditors. The Dow Jones Industrial Average jumped 236.36 points, or 1.33%, to 18,000.40. The S&P 500 gained 25.05 points, or 1.20%, to 2,105.20. The Nasdaq Composite rose 62.82 points, or 1.25%, to 5,076.69.

The U.S. budget deficit narrowed further in May as revenue continued to rise faster than expenses have over the past year, the Treasury Department said Wednesday.

The World Bank on Wednesday cut its global growth outlook for this year and urged countries to “fasten their seat belts” as they adjust to lower commodity prices and a looming rise in U.S. interest rates.

Box Inc. said its loss widened as the software and cloud storage company continued its spending push, in its second quarterly report as a public company. For the quarter ended April 30, Box reported a loss of $47.3 million, compared with a year-earlier loss of $38.5 million.