U.S. stocks rallied across the board Wednesday, as traders placed bets that Greece is nearing a deal with its creditors. Elsewhere, the yield on the benchmark U.S. 10-year Treasury note added 4.9 basis points to 2.487%.
Technology and financial names led the way higher on the session. The energy sector also rallied, as both crude oil and natural gas futures gained nearly 2%.
HCC Insurance (HCC) was the big winner of the session, gaining 36%. The insurer received a $7.5 billion cash takeover offer from Japan-based Tokio Marine. On the other hand, Boulder Brands (BDBD) fell 22% after cutting guidance and announcing the resignation of its CEO. (For my analysis of today's news, click here.)
In after-hours action, Box (BOX) was trading higher after the software producer posted better-than-expected quarterly results. Krispy Kreme (KKD) was also up after announcing its own quarterly results.
Looking ahead to Thursday morning, we'll get a look at May retail sales and import prices, in addition to the weekly jobless claims. Facebook (FB) is also hosting its annual investor meeting.