Jul 08, 2015 06:45 AM EDT

U.S. Stocks End Higher In The Middle Of Greece Debt Negotiations

The U.S. stock market yielded modest gains on Tuesday as the Greek debt crisis goes into negotiations.

Thrasher Backer reported that the U.S. government bond prices rose, pushing the yield on the 10-year Treasury note down to 2.24 percent from 2.29 percent late Monday. 

Greece and its creditors conducted talks in Brussels on Tuesday about keeping the country from falling out of the euro. The Denver Post said that European officials thought of providing Greece emergency funding to steer clear of defaulting. Greece does not have the luxury of time as its banks are running low on cash.

Chief investment officer Burt White of LPL Financial said it's all Greece all the time.

The Standard & Poor's 500 index was pushed below a technical level, the index's average over the past 200 days as observed by traders, as major indexes slightly dived in early trading before dropping further during the midday. It indicated a far drop of stocks, so many people in the market jumped back in.

The Standard & Poor's 500 index rose 12.58 points, or 0.6 percent, to 2,081.34.  Meanwhile, the Dow Jones industrial average climbed 93.33 points, or 0.53 percent, to 17,776.91, while the Nasdaq composite inched up 5.52 points, or 0.1 percent, to 4,997.46.

Major indexes in Europe ended slightly lower, with Germany's DAX sliding 2 percent and France's CAC-40 losing 2.3 percent. Britain's FTSE 100 dropped 1.6 percent.

In Asia, Chinese stocks led the nosedive in the market on Wednesday. As Greece's future in the euro remained uncertain, the sell-off in Shanghai increased, according to ABC.

Japan's Nikkei 225 lost 1.5 percent to 20,067.59. South Korea's Kospi slumped to 1.3 percent at 2,014.22. Other regional markets that experienced market drop include Taiwan, Singapore, Australia and the Philippines.

The Greece referendum resulted to 61 percent of its citizens rejecting the proposals for spending and tax increase. Greece's financial troubles have no solid proof that it could have any forthcoming effect on other Eurozone countries.

 

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