Stocks Bounce Back from Session Lows

Originally published on Fox Business FOX Business: The Power to Prosper After kicking off the day with triple-digit losses, the Dow has staged a recovery bid as traders try to overcome worries about the stability of the eurozone. Today's Markets As of 11:48 a.m. ET, the Dow Jones Industrial Average fell 63.1 points, or 0.49%, to 12868, the S&P 500 slid 4.8 points, or 0.35%, to 1359 and the Nasdaq Composite dipped 3.4 points, or 0.12%, to 2943. The financial and health-care sectors were doing the worst on the day, with other sectors recovering markedly from session lows. Indeed, the technology and utility sectors were in the green. The situation in Greece remained quite fluid on the day. The New Democracy party, which holds the most seats in parliament, failed to create a coalition government, meaning the leader of the smaller Syriza party will have to make an attempt on Wedneday. If Greek leadership fails to form a unity government, new elections may have to be held in June. It is also possible that any new government may not be friendly to austerity measures that are needed to receive rescue funds from the European Union and International Monetary Fund. In fact, the European Financial Stability Fund, which disburses the bailout funds, was debating whether to provide Greece with a $5.2 billion tranche as planned on the day, according to multiple media reports. Continue reading here.