The S&P 500 enjoyed a third straight day in rally mode, while closing out the second quarter with gains of more than one percent on Thursday. Crude closed with its best quarterly performance in seven years. S&P downgraded the European Union to a AA rating from AA+. The credit rating firm said it reassessed its outlook following the UK's exit vote. S&P and Fitch downgraded the UK's rating on Monday. Hershey's (HSY) board unanimously rejected a takeover offer from Mondelez International (MDLZ) and showed no interest in any further discussion. Mondelez reportedly offered Hershey $107 a share. Visa (V) was the worst performer on the Dow after a federal appeals court threw out a multi-billion dollar antitrust settlement. The case involved the credit-card company and Mastercard (MA) against numerous retailers. TheStreet's Keris Lahiff reports from Wall Street.
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