Stocks edge lower as optimism about a Greece debt deal fades
The Wall Street entrance of the New York Stock Exchange. Global shares rose Wednesday, June 24, 2015, and Japan’s benchmark hit an 18-year high, amid optimism about a bailout deal between Greece and its creditors. AP
NEW YORK— U.S. stocks are moving lower as negotiations between Greece and its lenders drag on.
Greece faces a deadline next week for a big loan repayment, and could default if it can’t agree with its creditors on what reforms it needs to make.
The Dow Jones industrial average fell 56 points, or 0.3 percent, to 18,086 as of 11:45 a.m. Eastern time Wednesday.
The Standard & Poor’s 500 index declined four points, or 0.2 percent, to 2,119.
The Nasdaq composite decreased eight points, or 0.2 percent, to 5,152.
Homebuilder Lennar jumped 4 percent after reporting earnings that easily beat the estimates of Wall Street analysts.
Bond prices rose slightly. The yield on the 10-year Treasury note declined to 2.40 percent.
