Uncertainty Threatens to Sap Momentum From Three-Day Rally

(TheStreet) -- Stocks wavered Wednesday as continued signs of weakness in the U.S. economy and ongoing uncertainty regarding Europe's plan for financial stability threatened to sap some momentum from U.S. equities' three-day winning streak. The Dow Jones Industrial Average was gaining 35 points, or 0.3%, at 11,226. The S&P 500 was down by 1 point, or 0.1%, at 1174 and the Nasdaq was off by 5 points, or 0.2%, at 2542. Belief that European leaders are committed to taking action to stabilize the eurozone has helped fuel U.S. equities to three consecutive sessions of gains despite fears of a U.S. slowdown. On Tuesday, the Greek Parliament approved a new property tax that was considered crucial for the debt-laden country to get its next bailout installment. Comments from European Commission President Jose Manuel Barroso on Wednesday urging European leaders to do whatever it takes to protect the eurozone were also supporting hopes that the region will develop a unified plan to prevent financial weakness from spreading.

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