NEW YORK: US stock markets followed their European counterparts higher Tuesday in opening trade as Greece inched closer to a deal on naming a new premier and crisis team.
But Italian politics and the plunging prices of the country's sovereign debt kept a cloud over trade.
The Dow Jones Industrial Average was up 7.94 points (0.07 percent) to 12,076.33 after 45 minutes of trade.
The tech-heavy Nasdaq Composite gained 13.29 (0.49 percent) to 2,708.54, while the broader S&P 500 added 3.66 points (0.29 percent) to 1,264.78.
"Given that corporate news has been inconsequential and no economic releases are scheduled for today, Europe remains the primary point of focus for market participants," said analysts at Briefing.com.
"Among the more interesting items are the expected selection of a new prime minister in Greece and the uncertain future of Italy's current prime minister."
Buying was broadbased, with Wells Fargo adding 2.4 percent to lead most other major banks higher.
Oil and gas explorer Pioneer Natural Resources lost 3.8 percent after it said it would offer 5.5 million shares for sale to raise new funds.
Online travel website Priceline jumped 3.7 percent after reporting earnings had doubled in the third quarter -- while warning that the current quarter would not meet earlier forecasts.
Bond prices fell. The yield on the 10-year Treasury rose to 2.04 percent from 1.99 percent Monday, while that on the 30-year Treasury moved to 3.10 percent from 3.04 percent.
Bond yields and prices move in opposite directions.
Comments
Comments are closed for this article.