Stock Market Sees New Surge

The Dow Jones industrial average's earlier big rally lost some steam at the end of the trading session, paring gains earlier that had caused a significant dip in the volatility index that measures market fears. The Dow closed up 146 points, or 1.3 percent. The final trading hour came after the Financial Times reported that there's a split in the euro zone over the terms of Greece's second bailout package. “We’re not out of the woods, and we’re not near a solution yet—the euro zone and U.S. debt problems are still not resolved,” Brian Gendreau of Cetera Financial Group advised. Todd Schoenberger, LandColt Trading’s managing director, echoed a similar warning: “Investors need to proceed with caution—it’s a ‘buyer beware’ market at this point.”