Stocks Wobble on Greek Uncertainty

U.S. stocks wavered early on Wednesday, with investors not sure what to make of Greece’s efforts to reach an accord needed to obtain new rescue funds. The Dow Jones Industrial Average fell 9.23 points to 12,868.97. The S&P 500 Index gained half a point to 1,347.58. The Nasdaq Composite climbed 4.5 points to 2,907.58.

Talks between Greece and international creditors over a second bailout stretched past yet another deadline, but appeared to be moving toward a conclusion Wednesday after the European Central Bank reportedly agreed to exchange Greek government bonds at less than face value in an effort to further reduce the nation’s debt load.

McDonald’s Corp.said Wednesday its January comparable sales rose 6.7%. Same-store sales in the U.S. rose 7.8% and rose 4% in Europe. In Asia/Pacific, Middle East and Africa, comparable sales increased by 7.3%. Systemwide sales for the month rose by 8.4%, or 9.1% in constant currencies.

Finland-based Nokia Corp., the world’s largest handset maker by unit shipments, said it plans to move some of its smartphone production closer to component suppliers in Asia, cutting about 4,000 jobs at assembly plants in Hungary, Mexico and Finland in a bid to get products to market more quickly.