U.S. stocks were higher on Tuesday, as investors attempted to find direction amidst news in Greece and at home.
While any developments in Greece’s debt saga will certainly continue to affect U.S. markets, Tuesday’s activity suggested a refocusing towards issues here in the states, and a continued concentration on the possible timing of an interest rate hike.
The trade gap deficit was reported this morning at $41.9 billion—still an increase on the last reading, but not as significant an uptick as analysts expected.
“Investors want to get out–not just because of Greece,” Adam Sarhan, CEO of Sarhan Capital suggested to CNBC.
By noon, the Dow had tumbled more than 200 points before beginning to reduce its losses. As of 3 p.m., the major indices had turned positive.
Meanwhile, Greece and its Eurozone creditores were still awaiting one another’s counter-proposals in hopes of solving the debt crisis.
Here are the final numbers from Tuesday on Wall Street:
Dow Jones Industrial Average: 17,776.91 (+93.33)
NASDAQ: 4,997.46 (+5.52)
S&P 500: 2,081.34 (+12.58)