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U.S. markets recover from steep losses
NEW YORK, Feb. 7 (UPI) -- U.S. markets turned modestly higher Tuesday despite a strike in Greece called to protest a new austerity budget package.
Leaders of the Greek government Monday announced an agreement to cut 15,000 public jobs through attrition this year and 150,000 by 2015. Party leaders also agreed on a set of spending cuts to help Greece comply with financial mandates set by the European Union, the European Central Bank and the International Monetary Fund to allow Greece to qualify for continued international assistance.
The strike is a vivid reminder that there is more work to be done. Greece has yet to reach an agreement with creditors.
By close of trading Tuesday, the Dow Jones industrial average added 33.07 points, or 0.26 percent, to 12,878.20. The Standard & Poor's 500 index gained 2.72 points, or 0.2 percent, to 1,347.05. The tech-heavy Nasdaq composite index tacked on 2.09 points, or 0.07 percent, to 2,904.08.
On the New York Stock Exchange, 1,722 stocks advanced and 1,304 declined on a volume of 3.6 billion shares traded.
The 10-year treasury note fell 19/32 to yield 1.979 percent.
The euro rose to $1.3256 from Monday's $1.3131. Against the yen, the dollar rose to 76.78 from Monday's 76.55 yen.
In Tokyo, the Nikkei 225 index shed 0.13 percent, 11.68 points, to reach 8,917.52.
In London the FTSE 100 index was flat, falling 0.03 percent, 1.94, to 5,890.26.
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