US stocks rise as Greek default looms

GMT 21:27 2015 Tuesday ,30 June

Arab Today, arab today US stocks rise as Greek default looms

US stocks
New York - AFP

US stocks finished moderately higher Tuesday, recovering some of the prior session's losses, as Greece edged closer to a debt default.

At the closing bell, the Dow Jones Industrial Average was at 17,616.17, up 19.82 points (0.11 percent).

The broad-based S&P 500 rose 5.22 (0.25 percent) to 2,062.86, while the tech-rich Nasdaq Composite Index gained 28.40 (0.57 percent) at 4,986.87.

US stocks were in positive territory virtually the entire session, in part due to sentiment that the market was oversold after Monday's rout.

Analysts also expressed greater optimism about Greece after Greek officials made a last-minute effort to extend its bailout hours before its expiry and a possible IMF default.

Eurozone finance ministers declined that request, but will continue talks Wednesday after Athens asked for a new aid plan, officials said.

"There's a little bit of optimism today," said Dan Greenhaus, chief global strategist at BTIG.

"It's a fluid situation, but what today shows, like yesterday, is that these Greek headlines are going to drive the action."


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