Stocks turn mixed after European ministers put off aid to Greece
Stocks turned mixed after European leaders put off an aid payment to Greece, adding to investor worry over protraction of the Eurozone debt crisis.
After initially opening lower, the Dow Jones industrial average turn slightly positive. The Dow added 5 points, essentially unchanged at 12,820.
The Standard & Poor’s 500 index was down 1 point, or 0.1%, at 1,379. The Nasdaq was down 10 points, or 0.3%, to 2,895.
European finance ministers meeting in Brussels gave Greece an additional two years to meet conditions of its bailout package, the Associated Press reported. But the leaders put off a $40-billion loan to Greece, the AP reported.
In the U.S., the so-called fiscal cliff will stay on center stage. Wall Street will be watching how Congress and President Obama move to avert automatic spending cuts and tax increases due to kick in at year’s end. Economists say the fiscal cliff could push the fragile U.S. economy back into recession.
Obama is due to meet American business leaders at the White House on Wednesday to discuss the fiscal cliff.
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