Stocks Ended with Solid Gains on Greece Optimism

U.S. stocks closed sharply higher on Monday as investors were relieved that Greece and its creditors reached an agreement for a third bailout program. The Dow Jones Industrial Average jumped 217.27 points, or 1.22%, to 17,977.68. The S&P 500 gained 22.98 points, or 1.11%, to 2,099.60. The Nasdaq Composite climbed 73.82 points, or 1.48%, to 5,071.51.

The United States posted a budget surplus of $51.8 billion in June, down 27 percent from the same period last year, the U.S. Treasury Department said on Monday.

Oil fell more than 1 percent on Monday. Brent futures, the global benchmark for crude, settled down 88 cents, or 1.5 percent, at $57.85 a barrel. U.S. crude futures finished 54 cents, or 1 percent, lower at $52.20.

MPLX LP said Monday that it has agreed to buy MarkWest Energy Partners LP for about $15.8 billion, creating a master-limited partnership giant with natural gas and crude oil presences.

The online price fight as well as the bickering is heating up between Wal-Mart and Amazon.com, and it’s not even the holiday shopping season.Wal-Mart Stores Inc. has lowered the threshold for free shipping for online purchases to $35 from $50 for at least 30 days and on Wednesday, it will offer discounts on thousands of items online.