Stocks gain as Greek debt swap deal proceeds

EILEEN AJ CONNELLY AP Business Writer Published:

NEW YORK (AP) -- Stocks are closing with strong gains for a second straight day on confidence that enough private investors in Greek bonds agreed to participate in a deal to restructure the troubled nation's debt.

A Greek government official said the participation rate ahead of the deadline was already above 75 percent, a threshold that meant the deal is likely a success.

Investors also drove stocks higher on optimism about a February jobs report due out before the market opens Friday.

The Dow closed up 70 points at 12,908. The S&P 500 added 13 to 1,366. The Nasdaq closed up 35 at 2,970.

Nearly four stocks gained for every stock that fell on the New York Stock Exchange. Volume was light at about 3.4 billion shares.