NEW YORK — U.S. stocks closed slightly higher Tuesday as investors continued to monitor talks between Greece and its creditors in hopes that a deal will be reached to keep the country from falling out of the eurozone.
Investments typically considered less risky, such as bonds, gold and utilities stocks, declined.
The Dow Jones industrial average rose 28.23 points, or 0.2 percent, to 18,047.58. The Standard & Poor’s 500 index added 3.35 points, or 0.2 percent, to 2,100.34, and the Nasdaq composite rose 5.43 points, or 0.1 percent, to 4,899.27.
U.S. markets were closed Monday for Presidents Day.
Stock indexes had been lower most of the day, but they recovered their losses on reports that progress was being made between Greece and its creditors.
Greece is looking to request an extension to its loan agreement, government officials said Tuesday. It’s an effort to reach a last-minute deal with the country’s European lenders and avoid the danger of a euro exit.
After five years of punishing austerity, Greece wants to scrap its existing program in favor of a new one with easier terms. If no agreement is reached by the end of the month, investors expect that Greece may have little option but to default and stop using the euro currency. Most analysts expect a deal will be reached in time.
“Greece’s new government wants more independence, but it doesn’t want that independence at all costs,” said Anastasia Amoroso, a global market strategist at JPMorgan Funds. “The extension is good news because it buys Greece and the eurozone time to reach a long-term resolution.”
While the major stock indexes moved little Tuesday, investors made noticeable moves out of the traditional safe havens: bonds, gold and dividend-paying stocks such as utilities.
On Wednesday, the Fed will release the minutes from its January policy meeting. Investors expect the language to signal that the nation’s central bank is on track for a modest interest rate increase as early as June.
Benchmark U.S. crude fell 75 cents to close at $53.53 a barrel in New York.
