Posted: May 15, 2012 11:22 AM
Source: Associated Press
NEW YORK- U.S. stocks are modestly higher at midday as conflicting news about the economy and a Greek political stalemate bat the indexes between small gains and losses.
The euro and European stocks plunged as trading in New York began Tuesday after efforts to form a government in Greece collapsed. Newly-elected leaders there disagree about whether to accept more international bailouts and continue with painful spending cuts.
U.S. stocks enjoyed a small early bump after news that confidence among U.S. builders rose to a five-year high in May. Homebuilders rallied.