Stocks rise as Greece nears debt solution

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Stocks are rising for a third day as Greece clears a hurdle to more emergency loans and Bank of America settles with investors over failed mortgage securities.

The Dow Jones industrial average is up 57 points, or 0.5 percent, at 12,245 in midday trading Wednesday. The Standard & Poor’s 500 index is up 9, or 0.7 percent, at 1,305. The Nasdaq composite is up 10, or 0.4 percent, at 2,739.

Greek lawmakers passed an austerity bill that gets the country closer to a financial backstop it needs to avoid defaulting on its debt. A default would shock global markets.

Financial companies in the S&P 500 rose 1.5 percent after Bank of America Corp. reached