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FROM MORRISON SECURITIES PTY. LTD:
U.S. STOCKS MARKETS
Stocks held onto gains in early-afternoon trading, even as Greece delayed action on austerity measures to address its debt crisis. The Dow Jones Industrial Average was up 35 points, or 0.3%, at 12881, reversing early losses.
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The Standard & Poor's 500-stock index was up 2.2 points, or 0.2%, at 1347, and the Nasdaq Composite was up 2.8 points, or 0.1%, at 2905. Seven of the S&P's 10 sectors were higher, led by utilities and consumer-discretionary stocks.
McDonald's was the largest gainer on the Dow with a 1.4% rise. Talks between Greece and its creditors on a loan deal appeared to be nearing a conclusion Tuesday, though political leaders postponed a meeting of political leaders later in the day to discuss the plans.
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A new fiscal pact is necessary for Greece to receive the next round of bailout funds. Federal Reserve Chairman Ben Bernanke told the U.S. Senate budget committee there has been a modest increase in the long-term normal rate of U.S. unemployment, noting it was a cause of concern to monetary policy makers.
Meanwhile, the Bureau of Labor Statistics reported the number of U.S. job openings jumped 8.3% in December to 3.4 million, as employers continue to increase the number of positions they are looking to fill.
In corporate news, Coca-Cola rose 1% after the soft-drink company reported fourth-quarter earnings and revenue that exceeded estimates.
Coinstar climbed 18% after the company reported fourth-quarter results that were well above expectations and provided a first-quarter revenue outlook that was above current projections. In addition, the company said its wholly owned subsidiary, Redbox Automated Retail, has agreed to buy the assets of NCR's entertainment business for as much as $100 million. NCR rose 9.2%.
EUROPEAN STOCK MARKETS
Most European stock markets closed lower Tuesday, but pared losses in late trade on reports that Greece was close to reaching an agreement needed to qualify for a second bailout.
The Stoxx Europe 600 index closed 0.3% lower at 263.55, after trading as low as 261.62. European markets pared losses on news that Greek government officials were drafting a final agreement on budget cuts to be presented to political leaders later in the day.
The French CAC 40 index rose 0.2% to 3,411.54, recovering from an earlier low of 3,379.43. The U.K.'s FTSE 100 index ended marginally lower, down 0.03% at 5,890.26. Germany's DAX 30 index fell 0.2% to 6,754.20.
Greece's main political parties have been struggling to finalize details of another round of austerity measures, including wage cuts, intended to pave the way for what would be a second bailout package for Greece.
