Stocks were little changed on Tuesday as enthusiasm waned over a deal to enable Greece to avoid a March default, while Wal-Mart weighed on the Dow after lower-than-expected results.

Analysts said the deal was already priced into a stock market that has risen more than 8 percent for the year. Also, the muted response came as questions remained about Greece's dismal economic outlook.

It's been digested, rehashed, priced into the market and though it is nice to see it (at) a point where we have a second deal, it doesn't lend investor confidence to think the ultimate outcome of what is going on in Greece is going to be something to help the euro zone turn on a dime, said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

An agreement on a 130 billion euro ($172.47 billion) bailout was reached after Greece was forced to accept unpopular fiscal measures, and private sector bondholders agreed to steeper losses.

Even with the new bailout, Greece faces a long road to economic recovery. European Union officials said the Greek economy will only return to growth in 2014 after a recession that will shrink output by 17 percent.

The Dow Jones industrial average <.DJI> was up 9.61 points, or 0.07 percent, at 12,959.48. The Standard & Poor's 500 Index <.SPX> added 2.19 points, or 0.16 percent, at 1,363.42. The Nasdaq Composite Index <.IXIC> put on 3.00 points, or 0.10 percent, at 2,954.78.

Wal-Mart Stores Inc lost 3.8 percent to $60.07 as the top drag on both the Dow and S&P after its quarterly profit came in short of Wall Street expectations.

Home Depot Inc climbed 1.3 percent to $47.32 after the home improvement chain's quarterly profit beat estimates.

Macy's Inc climbed 2.8 percent to $37.25 as the department store chain posted higher profit and forecast further sales gains this year.

The Morgan Stanley retail index <.MVR> dipped 0.2 percent. The S&P retail index <.RLX>, which excludes Wal-Mart, gained 0.5 percent.

Kraft Foods Inc advanced 1 percent to $38.37 after the foodmaker reported higher earnings that met expectations.

Apple Inc was up 1 percent to $507.26 after the U.S. International Trade Commission ruled the iPhone maker did not infringe patented technology owned by Android phonemaker HTC Corp <2498.TW>.

Separately, a Chinese court will deliberate on a request by troubled technology company Proview to halt the sale of Apple iPads in Shanghai.

Dell Inc and Intuit Inc were due to report results later Tuesday.

Earnings season continued to wind down this week, with 59 companies scheduled to report. According to Thomson Reuters data through Tuesday morning, of the 418 companies in the S&P 500 that have reported earnings, 64 percent have topped analyst expectations.

(Reporting By Chuck Mikolajczak; editing by Jeffrey Benkoe)