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Stocks Higher Tuesday after Monday's Selloff

U.S. Market
Stocks rebounded in early trading Tuesday after a big sell-off Monday.

According to reports, Greece asked for a new bailout Tuesday amid a last-minute diplomatic push to seal some kind of agreement before the country's current rescue deal expires and it defaults on a payment to the International Monetary Fund.

The Case-Shiller composite index released Tuesday showed that U.S. house prices rose 1.1% in April. The also data showed home prices were up 4.9% from a year earlier, slightly slower than annual growth of 5% seen in March.

The Conference Board, a private research group, said its index of consumer confidence jumped to 101.4 in June from a revised 94.6 in May.

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Meanwhile, the Chicago PMI climbed to 49.4 in June from 46.2 in May; however, this is the fourth month this year the index was below 50; numbers below that level are associated with contraction.

The Dow was up 0.2%, the S&P 500 was up 0.3%, and the Nasdaq was up 0.5%.

Stocks on the Move
Shares of Juno Therapeutics (JUNO) jumped around 20% today after Juno and Celgene Corp (CELG) announced a $1 billion strategic collaboration to develop and commercialize Juno's chimeric antigen receptor technology and T cell receptor technology to target cancer and autoimmune diseases. Morningstar equity analyst Stefan Quenneville said no change in fair value estimate is planned for Celgene following the news. "We continue to think that Celgene's narrow moat--built on the dominance of blood cancer drug Revlimid--is expanding, and this deal, along with Celgene's other recent immuno-oncology collaboration with AstraZeneca, supports the firm's pipeline for post-2020 growth." Quenneville said.

Foreign Markets
European shares were lower today. The FTSE was down 1.5%, while the CAC was down 1.6%, and the DAX was down around 1.3%.

Chinese shares were higher, with the Shanghai gaining 5.3%, the Nikkei adding 0.6%, and the Hang Seng rising 1.1%.