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Wall Street: Finally, a relaxing weekend?

Adam Shell
USA TODAY

Lazy summer days? Not on Wall Street. Every weekend this summer investors have been on high alert due to a string of crises — most breaking over the weekend — that has upped the market temperature to a boiling point.

Traders work on the floor of the New York Stock Exchange.

The long, hot summer kicked off late on June 26 when Greece's Prime Minister Alexis Tsipras shocked markets by saying Athens wouldn't pay back money owed to the IMF by a key deadline, then made things worse by saying he was putting the country's bailout up for a referendum vote. The Dow Jones industrial average plunged 350 points on June 29.

Then over the July 4 weekend, Greece again set off market-related fireworks, as the nation voted 'No' that Sunday in the referendum, raising fears of a Greek exit from the eurozone. The Dow fell another 47 points Monday"> on July 6.

More hot news hit July 12 when Greece sealed an 85-billion-euro bailout deal with its creditors. The Dow rallied 217 points on July 13. The next week saw a slew of weak U.S. earnings spark a five-day losing streak for the Dow. Then China markets became the hottest story of the summer Monday, tumbling 8.5% while Wall Street was sleeping, sparking a 128-point Dow swoon.

Well, here's to Wall Street finally having a relaxing weekend.

In the pipeline for Friday are earnings reports from oil giants Phillips 66, Chevron and Exxon. And a final look at July consumer confidence is unlikely to cause a market tantrum. Hopefully, this weekend will be free of crises.

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