NEW YORK - The Dow and S&P 500 Friday bolted to fresh records after eurozone ministers agreed to extend Greece's bailout by four months.
A trader works on the floor of the New York Stock Exchange during the afternoon of February 13, 2015
The Dow Jones Industrial Average gained 154.67 points (0.86%) to 18,140.44, notching its first record of 2015.
The broad-based S&P 500 rose 12.85 (0.61%) to 2,110.30, while the tech-rich Nasdaq Composite Index jumped 31.27 (0.63%) to 4,955.97.
The bailout will be extended as long as Greece sets out key reform commitments by Monday, Eurogroup chief Jeroen Dijsselbloem said following a meeting with finance ministers in Brussels.
Markets greeted the news, which removes the immediate threat of a Greek default, though analysts also expressed caution.
"For now, crisis averted," said Jack Ablin, chief investment officer at BMO Private Bank, adding that "there is a lingering cloud that's going to continue to hang over the eurozone."
"It's terrific news but I wouldn't get too excited until a permanent deal is signed," said Chris Low, chief economist at FTN Financial.