Investing.com - U.S. stocks closed mostly lower on Tuesday, ending a five day advance in the S&P 500, as stymied Greek debt talks triggered safe haven buying
At the open of U.S. trade, the Dow Jones Industrial Average dropped 0.26%, the S&P 500 fell 0.10% and the Nasdaq Composite eased higher by 0.09%.
Word from the euro zone that finance ministers rejected demands by Greece's creditors to issue new bonds with an interest rate of 4%, triggered a flight to safety away from equities.
This news effectively put to rest rumors of yesterday's Greek debt agreement as finance ministers failed to agree on a debt deal and called for a greater contribution from bondholders.
Yves Maillot of Robeco Gestions explained to Bloomberg, "It seems we are far from an agreement. The problem of solvency of countries remains, along with the Greek situation."
Officials at the meeting in Brussels yesterday scoffed at putting up more money for Greece, calling on bondholders to provide debt relief.
However, U.S. earnings painted a bullish picture, as out of the 74 companies in the S&P 500 reporting since January 9, 48% beat expectations, per Bloomberg's data.
Travelers led the DOW lower, falling 3.80% after fourth quarter earnings sank 31%.
Apple is off by 1.64% as investors await earnings after the close.
Zion Bancorporation plunged 7.55% by after being downgraded to hold by Stifel Nicolaus & Co.
After the close of European trade, the EURO STOXX gave back 0.38%, France's CAC 40 fell 0.47%, while Germany's DAX dropped 0.27%. Meanwhile, in the U.K. the FTSE 100 slipped 0.53%.
Investors are awaiting U.K. GDP data as well as mortgage approvals and the Bank of England's meeting minutes. In the U.S., housing market data, crude oil stockpiles and the federal fund rate are on the agenda Wednesday.
In other news, the World Economic Forum begins its annual five day meeting in Davos, Switzerland tomorrow.
At the open of U.S. trade, the Dow Jones Industrial Average dropped 0.26%, the S&P 500 fell 0.10% and the Nasdaq Composite eased higher by 0.09%.
Word from the euro zone that finance ministers rejected demands by Greece's creditors to issue new bonds with an interest rate of 4%, triggered a flight to safety away from equities.
This news effectively put to rest rumors of yesterday's Greek debt agreement as finance ministers failed to agree on a debt deal and called for a greater contribution from bondholders.
Yves Maillot of Robeco Gestions explained to Bloomberg, "It seems we are far from an agreement. The problem of solvency of countries remains, along with the Greek situation."
Officials at the meeting in Brussels yesterday scoffed at putting up more money for Greece, calling on bondholders to provide debt relief.
However, U.S. earnings painted a bullish picture, as out of the 74 companies in the S&P 500 reporting since January 9, 48% beat expectations, per Bloomberg's data.
Travelers led the DOW lower, falling 3.80% after fourth quarter earnings sank 31%.
Apple is off by 1.64% as investors await earnings after the close.
Zion Bancorporation plunged 7.55% by after being downgraded to hold by Stifel Nicolaus & Co.
After the close of European trade, the EURO STOXX gave back 0.38%, France's CAC 40 fell 0.47%, while Germany's DAX dropped 0.27%. Meanwhile, in the U.K. the FTSE 100 slipped 0.53%.
Investors are awaiting U.K. GDP data as well as mortgage approvals and the Bank of England's meeting minutes. In the U.S., housing market data, crude oil stockpiles and the federal fund rate are on the agenda Wednesday.
In other news, the World Economic Forum begins its annual five day meeting in Davos, Switzerland tomorrow.