NEW YORK (CNNMoney) -- U.S. stocks started modestly higher Thursday as investors continued to focus on Greece.

News that Greek political parties have finally reached an agreement on austerity measures and reforms sparked increasing optimism that the troubled nation will be able to secure more bailout funds and avoid a default.

Greek finance minister Evangelos Venizelo will present the deal this afternoon at the meeting of finance ministers from the euro area.

The Dow Jones industrial average (INDU) rose 34 points, or 0.3%, the S&P 500 (SPX) added 3 points, or 0.3%, and the Nasdaq composite (COMP) gained 9 points, or 0.3%.

The deal was a major step for Greece toward securing a second bailout of €130 billion from the European Union, International Monetary Fund and European Central Bank. Greece needs the bailout money in order to make its payment on a €14.5 billion bond redemption next month.