Stocks closed sharply higher Thursday as panicky investors reacted to reports that central banks are ready to provide liquidity to financial markets following Greece's crucial election on Sunday in case it becomes necessary. The Labor Department reported that retail prices fell 0.3% in May compared to April levels, driven down by the falling gas prices. Stocks will likely continue to swing sharply through Friday. European stock markets lifted today by reports that major central banks and governments have contingency plans ready to counter any volatility next week after Greek elections.
