Stock hold gains, erasing early losses
By SAMANTHA BOMKAMP AP Business Writer February 7, 2012 3:44PM
In this Feb. 3, 2012 photo, trader Anthony Riccio, left, works on the floor of the New York Stock Exchange. Stocks were trading lower on Tuesday, Feb. 7, 2012, as talks dragged on in Greece to agree to the terms of a second bailout - and avoid looming bankruptcy - despite intense pressure from the country's euro partners. (AP Photo/Richard Drew)
Updated: February 7, 2012 11:28PM
NEW YORK (AP) — Stocks are ending higher as Greece appeared close to announcing a deal with creditors to reduce its debt.
The Dow Jones industrial average ended at its highest level since May 2008 Tuesday.
The Dow rose 33 points to close at 12,878. It hasn’t closed higher since May 2008, before the financial crisis. It had been down as many as 62 points in the first half-hour of trading.
The Standard & Poor’s 500 gained 3 points to 1,347. The Nasdaq composite rose 2 points to 2,904.
Indexes rose on a report that Greek leaders will soon tell European finance ministers they’ve formed a deal to reduce the country’s massive debt. Stocks also rose on news that U.S. job openings soared to the highest level in nearly three years in December.
Comments Click here to view or make a comment