U.S. stocks pared early losses to end mildly higher Tuesday, as investors were assessing the impacts of the unfolding Greek debt crisis.
The Dow Jones Industrial Average added 93.33 points, or 0.53 percent, to 17,776.91. The S&P 500 gained 12.58 points, or 0.61 percent, to 2,081.34. The Nasdaq Composite Index edged up 5.52 points, or 0.11 percent, to 4,997.46.
An emergency Eurogroup meeting in Brussels, Belgium, on the Greek debt deal ended inconclusive Tuesday afternoon, with lenders saying publicly that their expectation for new Greek proposals fell, but Athens denied.
The finance ministers of eurozone countries didn’t receive new proposals they had expected from Greece Tuesday, said Eurogroup head Jeroen Dijsselbloem after the crucial meeting.
Newly-appointed Greek Finance Minister Euclid Tsakalotos gave an oral presentation to the eurozone finance ministers, saying the new proposal would be presented Wednesday.
The statements from both sides were made as Greek Prime Minister Alexis Tsipras was holding a meeting with German Chancellor Angela Merkel and French President Francois Hollande in Brussels ahead of the eurozone summit which was convened later Tuesday on the Greek issue.
Greek banks are closed and capital controls have been imposed in Greece since June 29. ATMs are expected to run out of cash this week, and without emergency assistance, Greece seems to be heading to default and possibly an exit from the eurozone.
On economic front, the goods and services deficit of the United States was 41.9 billion U.S. dollars in May, an increase of 1.2 billion dollars from April’s revised level, according to the U.S. Commerce Department Tuesday.
The number of job openings was little changed at 5.4 million on the last business day of May, the highest since December 2000, the Department of Labor reported Tuesday. Enditem