Stocks Push Higher on Greek Hopes
Originally published at Fox Business.
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Wall Street shed early losses and climbed modestly into positive territory on news reports Greece is nearing an agreement with its creditors that may enable the country to avert a damaging default.
Today's Markets
As of 11:55 a.m. ET, the Dow Jones Industrial Average rose 25.7 points, or 0.2%, to 12871, the S&P 500 gained 1.4 points, or 0.11%, to 1346 and the Nasdaq Composite climbed 4 points, or 0.14%, to 2906. Greece and its rescuers were close to a deal on Tuesday that would provide the country with much-needed rescue aid, according to a report by Dow Jones Newswires. Historically such talks have been quite fluid, and, as such, reports do not always come to fruition.
Indeed, Greek Prime Minister Lucas Papademos is expected to hold talks with the three main political parties later in the day to shore up support across parliament. The backdrop in Greece is turning increasingly grim.
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