U.S. stocks closed up on Tuesday, overlooking the ongoing debate over ending Greece’s current bailout.
On Sunday, Greek Prime Minister Alexis Tsipras reinforced his pledge to end the bailout. Thus far, however, he has yet to provide a useful solution to the country’s level of debt. The European Central Bank has refused Greece’s request for a ‘bridging loan’ when the bailout ends on February 28.
Today, Germany led a group of nations rejecting Greece’s latest proposal. Negotiators hope to come to an agreement at a Wednesday meeting in Brussels.Until a settlement is reached, market unrest figures to continue both here in the States and in Europe, where stocks were mixed on Tuesday after a Monday downturn.
Coca-Cola’s 4th quarter earnings helped pushed stocks higher today. The soft-drink manufacturer reported an increase of 3.5% for the last quarter of 2014. Western Union leads the companies who will report after today’s session.
A light week of data continued Tuesday. Wholesale inventory figures stayed level, the latest indication that 4th-quarter GDP could be adjusted downward.
Here are the final numbers from Tuesday on Wall Street:
Dow Jones Industrial Average: 17,868.76 (+139.55)
NASDAQ: 4,787.64 (+61.63)
S&P 500: 2,068.59 (+21.85)