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U.S. stocks rose, after the Standard & Poor's 500 Index rebounded from a drop below its average price during the past 200 days, as speculation grew that Greece's crisis would be contained.
The S&P 500 bounced back after falling through the 200-day moving average, an event that has coincided with past rebounds. Stocks have only crossed the level once since 2012 -- the period of last October's selloff, which gave way to an 11 percent advance at the end of 2014.
Greek Prime Minister Alexis Tsipras is in Brussels today for what could be a last chance to secure a rescue from European leaders and keep his country in the euro. Greece promised to put its economic proposals in writing as German Chancellor Angela Merkel warned that "only a few days" are left to reach a deal.
Finance ministers and leaders from the euro region have all made clear the onus is on Greece to explain how it plans to pull itself out of the crisis. Greek banks and the stock market will remain shut shut through Wednesday.
The S&P 500 fell the most in three months last week as the escalating crisis in Greece stole attention from U.S. economic data and the Federal Reserve. The benchmark measure is down 2.3 percent since its all-time high in May. Minutes from the Fed's June meeting due Wednesday may offer more perspective on the central bank's assessment of the economy's strength.
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