Market Update

The major market averages hold just off their best levels of the session a quiet trade progresses. An advance of 0.8% has the Nasdaq leading the way while the S&P 500 and Dow trail with gains of 0.6% and 0.5% respectively. Volume has been rather uninspiring, and is on track to fall short of Friday’s 650 million shares on the NYSE. European financials are seeing modest gains after last night’s Greek vote on austerity measures received Parliamentary approval and paved the way for the troubled country to receive a second bailout from the Troika. German bank Deutsche Bank (DB 44.58, +0.45) is higher by 1.1% while Britain’s Barclays (BCS 14.95, +0.14) lags with a 0.8% gains. The European banks are trailing their American counterparts as Bank of America (BAC 8.28, +0.21) and Citigroup (C 33.40, +0.48) are higher by 2.7% and 1.5% respectively.

Market update