Stocks are mixed in mid-day trading on Tuesday. The blue chips are showing gains, with the Dow briefly ticking above the 13,000 mark earlier in the day. Stocks have been bolstered by a deal to ensure another bailout package for Greece.
However, the agreement in Europe was largely expected, leaving little room for a further advance following the recent gains on Wall Street. This has led traders to wonder if another rally is justified in the near term, resulting in sluggish trading on the day. The Dow is off its high for the session and the Nasdaq is showing a mild loss.
The Dow is up 30 points. The Nasdaq is down 1 point. The S&P 500 is posting a 4-point advance.
Euro-zone finance ministers early Tuesday gave a green light to a second rescue package for Greece, unlocking a 130 billion euros in bailout money for the cash-strapped nation. The new bailout would leave Greece with sufficient funds to repay a 14.5 billion euros bond due on March 20.
Ensuring debt sustainability and restoring competitiveness are the main goals of the new program, the Eurogroup said in a statement. The deal follows weeks of sometimes tense negotiations and a number of austerity measures in Greece.
European markets are lower on the news. Germany is down 0.9 percent and France is lower by 0.6 percent. Shares in the region had rallied in anticipation of the Greek deal.
With U.S. markets closed on Monday for the President's Day holiday, Wall Street will be catching up to all the news that broke over the weekend.
Iran has halted sales of crude oil to buyers in France and Britain. The Middle Eastern country also threatened to cut off oil sales to other EU countries. The move is part of an attempt to pre-empt a European Union ban on Iranian crude.
China's central bank has decided to cut the banks' reserve requirement rate for the second time in three months. The move is meant to boost lending amid sluggish economic growth.
In corporate news, retailing earnings will be in focus today.
Wal-Mart (WMT) revealed earnings for its latest quarter that slipped more than 4 percent from last year. Sales at the world's largest retailer rose about 6 percent to $122.3 billion.
Earnings at Home Depot (HD) rose 32 percent in the fourth quarter. The home improvement retailer benefited from cost controls and a 6 percent rise in sales.
Macy's (M) revealed a quarterly profit that rose 12 percent from last year. Rival department store chain Saks (SKS) also announced increased sales and earnings.
Asian stocks finished the day mixed. Japan slipped 0.2 percent, but China and Hong Kong finished with modest gains.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.