Stocks pushed higher in midday trading on Wednesday, with investors reacting to news that Greece had passed its austerity budget and Bank of America Corp. agreed to settle claims associated with mortgage-backed securities.
At noon, the Dow Jones industrial average was up 82 points or 0.7 per cent, to 12,272. The broader S&P 500 was up 12 points or 0.9 per cent, to 1308.
Commodity producers were among the strongest performers, with materials stocks up 1.8 per cent and energy stocks up 1.4 per cent. Financials were also strong, rising 1.7 per cent.
Technology stocks lagged, with gains of 0.3 per cent. Defensive health care stocks were flat and utilities rose just 0.2 per cent.
In Canada, the S&P/TSX composite index was up 108 points or 0.8 per cent, to 13,213.
Materials rose 1.4 per cent and energy stocks rose 0.9 per cent. Information technology stocks rose 1 per cent.
Financials lagged, with gains of just 0.2 per cent. Telecom services and industrials were also relatively weak, rising less than 0.1 per cent each.