What a difference a day makes. Stocks closed higher Tuesday as investors bet the Federal Reserve could delay its looming rate hike as Greece flirts with default. All three major indexes finished Tuesday's volatile trading session higher, following a major selloff on Monday, when the Dow lost 350 points. 'The situation in Greece has the potential to delay a Fed rate increase until December or even next year should the situation deteriorate further,' wrote Brian Rehling, co-head of global fixed income strategy at Wells Fargo Investment Institute in a Tuesday note. Greece announced over the weekend that it will hold a referendum on July 5 to allow citizens to decide if the country should remain in the 19-country eurozone. A 'Grexit' would mean a return to Greece's old drachma currency. Though sources told Reuters that Greek officials are open to nixing the referendum in order to make way for a debt deal. Plus, Apple's (AAPL) streaming music service begins on Tuesday for $9.99 a month, following a 90-day free trial. The service will include music from Taylor Swift, who removed her songs from competitor streaming service Spotify. Apple's service is also set to compete with Pandora (P).
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