Stocks Ended Mixed on Europe Uncertainty

U.S. stocks finished mixed on Tuesday as Wall Street considered the ramifications of developments in Cyprus and the fate of a proposal to tax bank deposits to help fund a bailout of the island nation. The Dow Jones Industrial Average added 3.76 points to 14,455.82. The S&P 500 fell 3.76 points, or 0.2%, to 1,548.34. The Nasdaq Composite declined 8.5 points, or 0.3%, to 3,229.09.

The European Central Bank said on Tuesday after Cypriot lawmakers overwhelmingly rejected a key element of a proposed bailout that it was in contact with its IMF and EU partners and remained committed to providing liquidity within certain limits.

Lawmakers discussing the US Airways Group plan to merge with AMR Corp, parent to American Airlines, asked CEOs from the two companies repeatedly on Tuesday if the deal would mean higher fares or reduced service for the U.S. flying public, and were told it would not.

About the Author

has written 14458 stories on this site.

Copyright © 2012 Nine Stocks