Wall Street rallies 4th day, gains in July seen

US stocks ended a volatile quarter with their biggest four-day rally since September as positive economic data and a temporary resolution of Greece's debt crisis indicated further gains in July.

The Dow Jones industrial average was up 152.92 points, or 1.25 percent, at 12,414.34. The Standard & Poor's 500 Index was up 13.23 points, or 1.01 percent, at 1,320.64. The Nasdaq Composite Index advanced 33.03 points, or 1.21 percent, at 2,773.52.

European shares rose today, on track for a fourth consecutive session of gains, led by banking stocks in a short-term relief rally on hopes Greece will pass the final austerity bill and avert a near-term default.

The pan-European FTSEurofirst 300 index of top shares was up 0.3 percent at 1,102.48 points, with the next resistance level seen at 1,160 representing the highs reached in April, a level the index has since tested. The Euro STOXX 50 volatility index, Europe's main fear gauge fell 5.8 percent, indicating a rise in appetite for risk.

The Nikkei average ended slightly higher though it pulled back after hitting a fresh seven-week peak, partly encouraged by strong performances in other Asian markets. The benchmark Nikkei closed up 0.2 percent at 9,816.09, after rising to 9,849.69, its highest since May 11. The broader Topix rose 0.6 percent to 849.22.