Naz News, Gappers and FLE's

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Markets extending gains; Original rally was boosted by a push above the 100 sma support level in the S&P; But the gain has been extended on headlines that Germany may be bending on a deal

The headlines are saying that Germany is considering settling for at least one of the reforms from the Greek government which would lead to a staggard plan for a bail out.

Normally we would be skeptical but it is worth noting that the ECB extended its ELA program by over EUR 2 bln to Greece.

This is an olive branch that will grease the liquidity wheels for Greece.

It suggests the two sides continue to press toward a deal.

Market participants are still curious to see if the two sides will meet this evening.