US stocks edge up as Greece negotiates to cut debt
By MATTHEW CRAFT AP Business Writer January 23, 2012 9:08AM
In this Jan. 18, 2012 photo, trader Gregory Rowe, left, and specialist Glenn Carell work on the floor of the New York Stock Exchange. Hopes that Greece will eventually reach a deal with private creditors on lowering its debt supported markets on Monday, Jan. 23, 2012, as investors looked past delays in reaching an agreement that would further ease Europe's debt crisis. (AP Photo/Richard Drew)
Updated: January 23, 2012 10:53PM
NEW YORK (AP) — U.S. stocks are opening slightly higher, following a rise in European markets on hopes that Greece will reach a deal with private creditors on lowering its debt.
The Dow Jones industrial average is up 5 points to 12,728 early Monday. The S&P 500 index is up 2 points to 1,317. The Nasdaq composite is up 4 points to 2,791.
Creditors are in negotiations with the Greek government to reduce its debt burden.
Energy companies are making large moves in early trading. Chesapeake Energy Corp. is up 7 percent after the country’s second-largest natural gas producer said it plans to cut production.
Apache Corp. is up nearly 2 percent after the oil and gas producer said it plans on buying Cordillera Energy Partners in a $2.85 billion deal.
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