A plan to deal with the Greek debt situation led stocks upward on Monday to a healthy gain. On Tuesday, the Dow rose over 100 points on continued optimism over Greek debt relief, while the market awaited the upcoming Fed meeting. The major indexes were unable to keep mid-day gains on Wednesday when Fed Chair Bernanke failed to say something unexpectedly positive in his post-meeting address. On Thursday, the Dow dropped precipitously in the morning, but managed to finish with only a moderate loss as investors reacted negatively to a plan by the International Energy Agency to release more oil onto the global market. Friday ended the week with yet another loss as concern over Italian banks weighed on investors’ minds more than an upward revision in the first quarter GDP to 1.9% growth encouraged investors.
The Dow finished down for the seventh time in eight weeks.
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