How the Dow Jones industrial average fared on Friday

At 9:42 a.m. ET (1342 GMT) the Dow Jones industrial average was down 156.73 points, or 0.88 percent, at 17,620.18. Both HarperCollins and The Wall Street Journal are owned by News Corp. Greek Prime Minister Alexis Tsipras has until midnight to propose spending-cut plans.

Investors had been also speculating that last-ditch talks amongst Greece and its creditors would create a deal to stop a Greek debt default. The Nasdaq composite gained 28 points, or 0.6 percent, to 4,938.

The stock exchange, which is the world’s largest by market capitalization, didn’t explain what caused the outage but said it was internal and not due to a breach of its systems. The firm’s profit margins expanded during the quarter, and it raised its full-year forecast although it adds that currency will have a negative impact of 11 percentage points on full-year profit.

She added, “But I want to emphasize that the course of the economy and inflation remains highly uncertain, and unanticipated developments could delay or accelerate this first step”. NYSE accounted for about 13.4 per cent of USA stocks last month.

Advancing issues outnumbered declining ones on the NYSE by 2,381 to 646, for a 3.69-to-1 ratio on the upside; on the Nasdaq, 2,105 issues rose and 631 fell for a 3.34-to-1 ratio favoring advancers. Sanofi (SNY) and Novo Nordisk (NVO) posted standout gains.

The broader Topix index outperformed, rising 0.2 percent to 1,583.55.

Positive news from overseas Greece-d Wall Street’s wheels on Friday, as traders cheered a possible resolution for the Greek economic crisis and a rebound in Chinese stocks. Facebook Inc. (NASDAQ:FB) was up over 1 percent to $87.24 after the Silicon Valley social networking giant said it was negotiating with major recording labels to feed music videos into Facebook user feeds. The weakness in the sector came amid a modest decrease by the price of gold.

“The market seems to be at the mercy of the most recent sound bite out of Brussels or Athens“, said Tom Mangan, who helps oversee about US$6.4 billion as money manager at James Investment Research in Xenia, Ohio.

News Corp rose 0.6 percent ahead of next week’s launch of “Go Set a Watchman”, the highly anticipated novel by Harper Lee. However, Japan’s Nikkei 225 Index bucked the uptrend and fell 0.4 percent.

Beijing authorities could “let the unwind run its natural course and deal with the fallout, or manipulate the market”, said Nick Lawson, a managing director at Deutsche Bank in London.

Worries about China were also seen as driving weakness in Apple, which fell five straight sessions before rallying Friday.

Bond prices fell. The yield on the 10-year US Treasury rose to 2.40 percent from 2.30 percent Thursday, while the 30-year advanced to 3.19 percent from 3.10 percent.

San Francisco Fed President John Williams is scheduled to speak on the economic outlook before the global Conference of Commercial Bank Economists later in the day.