Wall Street Rises On Jobs Data, Greek Debt Progress
By Scott Stoddard, Investor's Business Daily
Stocks were higher early Tuesday afternoon, reversing earlier losses, on an improvement in the U.S. labor market and signs that Greece was making progress on a plan to avoid a disorderly default.
The Nasdaq and S&P 500 each rose 0.2% after both had been down 0.4% in early trading. The Dow Jones industrial average was up 0.3%, rebounding from an earlier 0.3% decline. Volume on all indexes was slightly positive compared with the same time Monday.
Greek officials were drafting a proposal for a European Union bailout needed to avoid a default that could upset credit markets and damage the global economy. The plan must be approved by parliament, which was the scene of protests Tuesday against austerity measures aimed at paring government debt.
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