DOW CLIMBS, NASDAQ FALLS: Here's what you need to know

Stocks posted a mixed performance on Friday and closed lower for the week. This weekend is Greece's last chance to avoid a missed payment to the IMF next Tuesday.

First, the scoreboard:

• Dow: 17,966.07, +75.71, (0.42%)
• S&P 500: 2,103.15, +0.84, (0.04%)
• Nasdaq: 5,085.29, -26.90, (-0.53%)

And now, the top stories on Friday:

1. The US oil rig count fell for a 29th straight week although the total rig count turned positive for the first time since December. The oil rig count fell by three to 628, the lowest since August 6, 2010. The number of oil and gas rigs in operation rose by two to 859. The reaction in oil prices was muted; West Texas Intermediate crude oil traded lower but little changed for much of the day, falling to as low as $58.78 per barrel.
2. It's the final weekend before Greece possibly misses a payment to the IMF. The Eurogroup of finance ministers meets tomorrow to try, yet again, to work out a bailout deal. Investors started the week confident, and Greek stocks rallied 16% this week. After this roller coaster week, Wall Street traders coined a new word: "Gretigue."
3. Chinese stocks got slaughtered again. The benchmark Shanghai Composite index closed down 7.38%, and is about 19% down from a multi-year peak reached on June 12. In a note Friday, Morgan Stanley warned that the market, which has been on a tear this year, could fall another 30%. "This is not an opportunity to buy the dip," Jonathan Garner said.
4. In economic data, the University of Michigan's consumer sentiment index rose to a five-month high. Economists had forecast a reading of 94.6, unchanged from the flash print, and up from 90.7 in May. In the release, the survey's chief economist Richard Curtin wrote, "consumers voiced in the first half of 2015 the largest and most sustained increase in economic optimism since 2004."
5. Nike shares rallied more than 4% to an all-time high. On Thursday afternoon, the company reported diluted earnings per share of $0.98 (up 26%, $0.86 expected,) and sales of $7.8 billion (up 5%, versus $7.7 billion estimated.) Sales rose 13% in North America.
6. Micron shares tumbled more than 18% after the PC chip maker reported quarterly earnings and forecasts below expectations. David Einhorn lost about $145 million; Greenlight Capital is the largest owner among hedge funders with 33.5 million shares, according to Bloomberg data based on a regulatory filing made March 31. Micron said it is expecting revenues for the next quarter of between $3.45 and $3.7 billion, below estimates for $4.16 billion. Micron's sales of $3.85 billion missed expectations for $3.9 billion, while adjusted earnings per share came in at $0.43, versus estimates for $0.57

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