Stocks Opened Higher on Greece Hopes

U.S. stocks opened sharply higher on Friday on renewed hopes that debt-troubled Greece will reach a deal with its creditors this weekend and stave off an exit from the eurozone. The Dow Jones industrial average lately rose 195.82 points, or 1.12%, to 17,744.44. The S&P 500 gained 22.26 points, or 1.09%, to 2,073.57. The Nasdaq Composite added 56.98 points, or 1.16%, to 4,979.38.

A new Greek proposal for economic policy overhauls and budget cuts appears to have moved closer to creditors’ demands on some of the most divisive issues, but there was no immediate word on whether it would be enough to unlock a new bailout package.

General Motors is recalling nearly 780,000 crossover SUVs mainly in North America because the rear power lift gates can suddenly fall and hit people.

Tesla Motors Inc. has hired former Burberry senior vice president Ganesh Srivats, adding a sales executive to help the electric-car maker extend its reputation for automotive luxury to an increasingly global audience.

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