Stocks Mixed at Open Ahead of Factory Data

U.S. stocks opened mostly lower Tuesday after last week’s rally and ahead of a report on factory orders. The Dow Jones Industrial Average lately fell 6.77 points to 12,576.00. The Standard & Poor’s 500 Index fell 2.10 points to 1,337.57. The Nasdaq Composite Index was up 1.03 points to 2,817.06.

Greece will stave off default not only for its own sake but because its survival is vital for the euro zone and the global economy, Greek Finance Minister Evangelos Venizelos told Reuters on Monday. With help from its EU partners and fresh determination, the debt-ridden euro zone member will regain its fiscal sovereignty as soon as possible and aims to return to markets in the middle of 2014, as expected, the minister said.

Energy Transfer Equity LP has agreed to pay a revised $5.1 billion for pipeline company Southern Union Co., increasing its offer in an effort to trump rival bidder Williams Cos. Inc. The boards of Energy Transfer and Southern Union have approved the revised deal which was announced Tuesday.

Oil prices bounced back above $95 a barrel Tuesday on the back of forecasts for more expensive crude in 2012. By early afternoon in Europe, benchmark oil for August delivery was up 51 cents to $95.45 a barrel in electronic trading on the New York Mercantile Exchange.

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