The Dow stock chart looks like a hammock today, with stocks swinging low in the middle of the day and then recovering late to end about flat. The Dow was down as much as 191 points in midday trading before closing down just 6.66 points.
Industrial stocks that had struggled earlier in the day were lifted as the market rallied. Caterpillar (CAT), for instance, ended the day 1.1% higher.
Stocks fell on fears that Greek will exit the euro zone. They rose, apparently, on the hope that European leaders will do everything in their power to keep that from happening — or they’ll at least find a way to secure the euro in the event Greece leaves. EU leaders were meeting for dinner Wednesday night in Brussels. As of this afternoon, no silver bullet plan to save the EU had apparently been presented.
This kind of uncertainty could plague the markets for another three weeks or so, as investors get ready for new Greek elections scheduled for June 17.
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