Third Day of Gains After Greek Austerity Bill (V, NWS)

Stocks continue with gains for the third day in a row, as the Greek austerity bill is finally passed. The agreement within the Greek Parliament was met with protests and riots by citizens. The temporarily great news helped not only US stocks, but markets around the world add gains. In corporate news, shares of Visa (V) and Mastercard (MA) popped as rumors say the Federal Reserve will soften their debit card restrictions. And News Corp (NWS) has finally sold MySpace, long on the market, to a private investment firm.

Word on the Street

• Stocks power forward for the third consecutive day.
• Greek austerity bill passed, met with riots by citizens.
• Crude oil supplies fall more than expected, sending prices rising for second straight day.
• Visa (V) and Mastercard (MC) rise after rumors the Fed will ease debit card restrictions.
• News Corp (NWS) finally sells struggling social network MySpace.
• Treasuries fall after another weak auction.
• Solar power provider First Solar (FSLR) slowly becoming an afterthought due to smaller competitors.

Interesting Tidbits

• When launching a new product, don’t ask users their opinion, but monitor their habits.
• Always trust your first instinct… except when doing the opposite is the more effective route.

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