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Stocks rise early after Greek deal, then flatten

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Posted: Feb 9, 2012 11:15 AM
Updated: Feb 9, 2012 11:15 AM
Source: Associated Press

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Topics: stocks, exchange, rise

NEW YORK - U.S. stocks rose in early trading Thursday after Greece nailed down a cost-cutting deal that it needs to avoid defaulting on its debt next month. But stocks fell later in the morning and are now virtually flat.

Analysts say the market expected the deal, and they're warning that Europe still has debt problems.

The Dow Jones industrial average pushed to within 75 points of 13,000, a milestone it hasn't reached in almost four years, but it's up only nine points at 12,893 at midday.

The Standard & Poor's 500 index briefly rose to 1,353, double its lowest close during the Great Recession, but fell back to 1,351 later, up a point on the day. The Nasdaq composite index is up six points to 2,922.

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