Dow Jones up 89 pts; CBOE volatility index closes below 15

US markets ended in positive territory as investors geared up for the start of the second quarter earnings season. The CBOE volatility index ended below 15.

The Dow Jones industrial average gained 88.85 points to close at 15,224.69. The Standard & Poor's 500 Index rose 8.57 points to 1,640.46. The Nasdaq Composite Index added 5.45 points to end at 3,484.83.

US treasury yields slipped some bit and were hovering around 2.65 mark

On the economic data front, consumer credit increased in May by USD 19.6 billion to USD 2.8 trillion, the most in a year.

In key data to watch out for in US, the NFIB small business optimism index for June may show a slightly higher reading at 94.7 compared to the 94.4 print in May.

Dow component Alcoa kicked off the earning season with a larger-than-expected quarterly profit, excluding one-time items such as restructuring costs and legal expenses.

Europe

Markets ended higher on better news from Greece and Portugal.

The European Union has agreed to give Greece some cash, but the 6.8 billion euro sum was not as much as Athens had hoped for. European finance minister said this month they will give Greece 2.5 billion euros with the rest coming later after the Greek government pushes forward on public sector reforms.

Portugal's government made moves to end its political turmoil, with a cabinet reshuffle agreed by the two coalition partners and the prime minister.