Blue chips rise as investors eye Europe (KSAT)
U.S. stocks were mixed Tuesday, with the Dow outperforming other indexes as
investors remained cautiously optimistic that a lasting solution to the
European debt crisis is in the works. The Dow Jones industrial average rose 54
points, or 0.4%, in afternoon trading. The blue-chip index was supported by
shares of GE, which rose 2.4%. The broader S&P 500 edged up about 1 point. The
Nasdaq slid 8 points, or 0.3%, after the tech-heavy index briefly moved back
into positive territory for the year on Monday. The Dow’s gains came despite a
warning from Standard & Poor’s late Monday on European debt. The credit rating
agency said it placed 15 eurozone nations, including Germany and France, on
review for a possible downgrade. “The market has obviously discounted that,”
Quincy Krosby, market strategist with Prudential Financial, said of S&P’s
action. Krosby said investors remain hopeful that European leaders will stop
dithering and produce some sort of concrete solution to the long-running debt
crisis at a summit this week. “It’s clear that policy makers understand that
the markets are not going to wait for the normal schedule,” she said. “There’s
a sense that they’re moving in the right …
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