Stocks Rally, Nasdaq Closes at Record

U.S. stocks rallied on Thursday, sending the Nasdaq Composite to record highs, thanks to news hopes that the worst can be avoided in Greece’s debt crisis and more clarity about the likely timing of an interest rate hike from the Federal Reserve.  At close, the Dow Jones Industrial Average rose 180.10 points, or 1.00%, to 18,115.84. The S&P 500 gained 20.80 points, or 0.99%, to 2,121.24. The Nasdaq Composite jumped 68.07 points, or 1.34%, to 5,132.95.

A meeting of eurozone finance ministers ended without a deal on Greece’s flailing bailout Thursday, spurring a special summit of European leaders on Monday.

Smith & Wesson (SWHC) reported fourth-quarter earnings. Net income comes to $21.9 million, or 40 cents per share, below net income of $24.9 million, or 44 cents per share in the year-earlier period. Sales comes to $181 million.

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. Brent crude (LCOc1) settled up 39 cents at $64.26 a barrel, off 70 cents from the day’s high.