US stocks rebound from early losses

NEW YORK: US stocks clawed back from early losses Monday, showing resiliency despite a stalled bid by Greece to obtain a crucial debt writedown from private creditors.

Pulling back from opening losses of more than one percent, the major indexes ended only modestly in the red.

The Dow Jones Industrial Average slipped 6.74 points (0.05 percent) to 12,653.72 and the tech-heavy Nasdaq dropped 4.92 points (0.17 percent) to 2,811.63.

The S&P 500, a broad measure of the markets, shed 3.39 points (0.26 percent) to 1,312.94.

Traders awaited the outcome of a European Union summit aimed at containing the eurozone crisis and bolstering the region's financial system.

Minutes before Wall Street markets closed, EU president Herman Van Rompuy announced that 25 of 27 EU nations had agreed to join a fiscal pact aimed at preventing future debt crises.

Only Britain and the Czech Republic refused to sign up.

Copyright AFP (Agence France-Presse), 2011