(MENAFN- ProactiveInvestors) U.S. stocks finished mostly unchanged Wednesday after a choppy session as investors remained uncertain about Greece's future.
At the closing bell in New York the Dow Jones Industrial Average settled down 7 points at 17862 while the Nasdaq rose 13 points to end at 4801. The S&P 500 finished flat at 2069.
Investors awaited the outcome of a meeting in Brussels with eurozone finance ministers to discuss Greece's debt obligations with traders shaky about whether the country and its creditors will reach an agreement to avoid a debt default. On Tuesday US stocks recorded sizable gains erasing losses from the previous two sessions with the Dow jumping 140 points on hopes for a Greek debt deal. Greece’s current bailout plan expires on February 28 and some fear it will run out of funds ahead of this date.
On the economic calendar in the US today the only government report came in the afternoon when the Treasury issued the January budget statement which reflected a deficit of $17.5 billion below the $18.5 villion deficit consensus.
Oil prices slumped further Wednesday after a climb in U.S. inventories showed supplies are holding around an 80-year high despite ongoing declines in the number of rigs drilling for oil. The Information Administration said crude inventories rose 4.9 million barrels for the week that ended Feb. 6 to total 417.9 million. West Texas Intermediate for March delivery fell 2.4% to settle at $48.84 a barrel on the New York Mercantile Exchange. Gold for April delivery fell 1% to settle at $1219.60 an ounce on Comex.
In corporate activity () has become the first US company to have its stock close with a market value above $700 billion after shares surged yesterday following news that it has signed a partnership with First Solar () to build an $850 million solar energy farm in California. The stock closed up a further 2.3% today.
() topped profit estimates by 4 cents today while revenue also came in above forecasts though it said it expects a "challenging and volatile" macroeconomic environment this year. Shares rose almost 2.5% Wednesday.
() fell over 24% after cutting its guidance for the year citing higher-than-expected expenses and softer than anticipated sales in January and February. The company also announced the retirement of its CFO Charles Turner.
After the closing bell Tesla () Cisco () and Whole Foods (NYSE:WFM) are slated to report quarterly results. Tesla's CEO Elon Musk is reportedly prepared to fire overseas executives amid weak Chinese sales according to a Reuters report.
In other news () is buying Eat24 for $134 million as competition for online takeout orders heats up. Chico's FAS () is reportedly in talks to be acquired by private equity firm Sycamore Partners in a deal valued at more than $3 billion.
() said it has agreed to buy EnvisionRx a pharmacy benefits manager for about $2 billion. The target company is a portfolio company of private equity firm TPG.
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