Stocks Closed Higher, But Ended Lower For June

U.s. stocks ended slightly higher on Tuesday, as investors held out hope for deal to keep Greece in the euro even as it veered close to a potential debt default. The Dow Jones Industrial Average added 23.16 points, or 0.13%, to 17,619.51.The S&P 500 was up 5.47 points, or 0.27%, to 2,063.11. The Nasdaq Composite gained 28.40 points, or 0.57%, to 4,986.87. The Dow, the S&P, and Nasdaq all closed lower for the month.

The Eurogroup of euro zone finance ministers will hold another conference call on Wednesday morning to discuss new proposals from Greece, the spokesman of Eurogroup President Jeroen Dijsselbloem said on Tuesday.

Greece on Tuesday asked for a new bailout amid a last-minute diplomatic push to seal some kind of agreement before the country’s current rescue deal expires and it defaults on a payment to the International Monetary Fund.

U.S. consumer confidence increased solidly in June, with households upbeat about the labor market, supporting views the economy was back on firmer footing after wobbling at the start of the year. The rise in confidence came despite moderate increases in gasoline prices.

Other data on Tuesday showed house prices rising in April from a year ago and factory activity in the Midweststabilizing after hitting a 5-1/2-year low in February.

The U.S. economy probably bounced back to an annual growth rate of around 2.5 percent in the second quarter, and the labor market is approaching full employment, Federal Reserve vice chairman Stanley Fischer said on Tuesday.

Conservatives cheered the demise of the federal Export-Import Bank Tuesday and vowed to beat back efforts to revive it, even as business leaders issued dire warnings that letting the agency expire at midnight would hurt U.S.






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