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U.S. Stocks advanced in trading Tuesday, sending the benchmarks to a four-year high after Greece scooped up a second bailout, refraining to join declines in European equities amid concerns the region's debt crisis will carry on. Treasuries waned and the euro picked up.
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Unlike the European markets, Equities in the U.S streched today's winning streak amid optimsim over Greece after European finance ministers awarded 130 billion euros ($173 billion) in aid that will help the debt-troubled nation stave off a chaotic default in March.
Furthermore, equities climbed above their 2011 highs as earnings from some of the biggest retailers including Home Deport Inc to Macy's Inc overshadowed fears of the worse that is yet to come andrisks revolting the gloomy outlook of Greece's economy even after the bailout.
The 17-nation currency gained against its U.S counterpart, sending the EUR/USD pair to trade around $1.3262 from the open of $1.3242. The dollar was little changed against most of its counterparts after the S7P rose to its highest level since 2008, leaving the dollar index to trade around 78.96 from the opening level of 78.97.
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At 11:39 a.m. in New York, the Dow Jones Industrial Average gained 37.69 points or 0.29 percent to 12987.56. The Standard & Poor's 500 Index rose 4.46 points or 0.33 percent to 1365.69. The NASDAQ Composite Index inclined 9.05 points or 0.31 percent to 2960.83. European equities fell from a six-month high, and the Stoxx 600 ended down 0.51 percent at 266.78.
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