With no deal in Greece and meetings between Greece and the Eurogroup ceasing ahead of Sunday's referendum, the U.S. markets pushed higher Wednesday on optimism Greece will not be leaving the Eurozone. Even with the day's gains, the major indices are still on track to close the week lower and the Dow remains negative for the year.
Nine out of 10 S&P 500 sectors closed higher with financials, consumer staples and consumer discretionary in the lead. Energy, industrials and materials were the laggards.
Oil fell 4.22% Wednesday, closing at $56.96 per barrel. This is the largest decline for oil since April 8 and its lowest settle since April 22.
Also getting hit Wednesday; airline stocks. This comes as the Justice Department is investigating whether airlines are colluding to grow at a slower pace as part of an effort to keep airfares high. A spokeswoman said they were investigating an "unlawful coordination" among some airlines. United Airlines, Southwest Airlines, Delta Airlines and American Airlines have all confirmed they have received a letter from the Department of Justice and that they will cooperate. So far, JetBlue has said they have not been contacted on this matter.
And, we learned after the closing bell that Hewlett-Packard is taking a step toward its November 1 breakup by filing paperwork with the SEC outlining the finances of the two businesses it intends to create. One company will be a printer-and-PC vendor called HP Inc. and the other, a supplier of corporate technology called Hewlett Packard Enterprises. Shares of H-P were flat after hours but finished the day higher by 1.77% to close at $30.52 per share.