Stocks rise as Greek debt deal reached but Japanese debt may need central bank bailout

Stocks were mostly higher on Wednesday.

The S&P 500 rose 0.7 percent, boosted by gains in energy stocks after US crude oil 1.9ercent.

The STOXX Europe 600 jumped 1.3 percent after the euro zone and the International Monetary Fund reached a compromise deal on Greek debt relief.

In Asia, the Nikkei 225 jumped 1.6 percent even though the Japanese government has the world's heaviest debt burden.

Bill Gross thinks that the Japanese cental bank will eventually need to buy that debt and forgo repayment to help the government cut its debt burden.

Or maybe Japanese workers will work until they reach the grave to help the government pay off its debt.