"It's a continuation of the bull market and we're encouraged by what we are seeing in Europe"
- Laszlo Birinyi, president of Birinyi Associates Inc.
U.S. stocks rose on Monday after Greek lawmakers turned austerity plan into law to secure rescue funds from the International Monetary Fund and Europe.
The Standard & Poor's 500 rose by 0.68%, or 9.13 points, to 1,351.77. The Dow Jones Industrial Average gained 0.57%, by 72.81 points, to 12,874.04. The Nasdaq Composite Index soared by 0.95%, or 27.51 points, to 2,931.39.
"We still think you should buy stocks," said Laszlo Birinyi, president of Birinyi Associates Inc. in Westport, Connecticut.
"It's a continuation of the bull market and we're encouraged by what we are seeing in Europe. I look at the markets, I find they are strong. There's real buying going on. This is not short-covering or a temporary or transitory thing."
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