U.S. stocks closed up about 1 percent on Tuesday as investors shook off early negative news out of Greece on hopes of a resolution. Art Hogan, chief market strategist at Wunderlich Securities, said markets were breathing a “sigh of relief over Greek drama.” The major indices closed in the black for the year, with the Nasdaq leading gains with a 1.09 percent year-to-date gain.
The Dow Jones Industrial Average recovered to trade by as much as more than 150 points higher after falling to single-digit gains on Tuesday morning reports that said the German Finance Minister would not agree to a new Greek debt program on Wednesday.
Also boosting the Dow, Coca-Cola gained about 3 percent after posting earnings of an adjusted 44 cents per share for the fourth quarter, two cents above estimates, with revenue above forecasts as well. Global case volume was roughly in line with estimates.
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