U.S. markets quiet as investors worry about Greece

Diane Alter – AHN News Reporter

New York, NY, United States (AHN) – U.S. stocks were little changed on the open Wednesday after piercing the psychologically important 13,000 mark on Tuesday.

Shortly after the opening bell on Wall Street, the Dow Jones Industrial Average was off 14 points, the Standard & Poor’s 500 Index was down 3 points and the NASDAQ lost 5 points.

Weighing on stocks and keeping investors on the sidelines were questions whether Greece’s new bailout will be effective. Eurozone finance ministers agreed on a deal Tuesday after weeks of negotiations that forestalled Greece from a messy and chaotic default.

While a crisis was temporarily averted, many analysts say it is just a matter a time before Greece will eventually have its hands out for more.

In afternoon trading, European stocks were lower. Asian markets ended higher.

In U.S. corporate news as earnings season continues, Dell disappointed when it reported its numbers after the close on Tuesday. Shares dropped nearly 7 percent in early trading Wednesday. After the close, rival Hewlett Packard will report its quarterly numbers.

Shares of Johnson & Johnson were higher after the company announced late Tuesday that CEO Bill Weldon will step down in April.

Netflix’s stock dropped after Comcast said it was working on a new subscription video on-demand competitor named “Steampix.”

In currencies and commodities, the dollar was flat against the euro, but rose versus the British pound and the Japanese yen.

Oil for April delivery lost 33 cents to $ 105.92 a barrel. Gold futures for April delivery slipped $ 1.60 to $ 1,756.90 a troy ounce.

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