Markets Shrug Off Completion of Greek Debt Deal
U.S. stocks struggled for direction, with the Dow and S&P ending higher but the Nasdaq falling.
The Dow Jones industrial average stayed above its previous close for most of the day Monday, closing up 38 points at 12,960.
The Standard & Poor’s 500 and the Nasdaq composite index spent much of the morning and early afternoon in the red, then wavered between small gains and losses. The S&P was virtually unchanged at day’s end, up 0.22 percent at 1,371. The Nasdaq was down 5 points at 2,984.
Greece reached a deal with private investors that would require the investors to take big losses but would also trim the country’s giant mountain of debt. Observers worried it will be difficult for Greece to attract investors in the future.
(Copyright 2012 by The Associated Press. All Rights Reserved.)