Greek austerity vote boosts US stocks

NEW YORK: US stocks opened solidly higher Monday after the Greek parliament's approval of tough austerity measures paved the way for a new financial rescue of the country.

Five minutes into trade, the Dow Jones Industrial Average was up 68.04 points (0.53 percent) at 12,869.27.

The broad-based S&P 500 added 8.30 points (0.62 percent) to 1,350.94, while the Nasdaq Composite gained 21.87 politics (0.75 percent) to 2,925.75.

With splits opening in the Greek government, doubts about a deal sent US stocks sharply down Friday, delivering the markets their first losing week since the beginning of the year.

But after the Greek parliament passed radical budget cuts late Sunday, praise from the EU and Germany signaled that the new 130 billion euro ($172 billion) EU bailout package was likely to go through later this week.