U.S. Stock Futures Edge Lower

Blue chips closed at a fresh multiyear high as investors saw progress in Greece over austerity measures to address its debt crisis. Paul Vigna has details on The News Hub. Photo: Reuters

Blue chips closed at a fresh multiyear high as investors saw progress in Greece over austerity measures to address its debt crisis.

The Dow Jones Industrial Average added 33.07 points, or 0.3%, to 12878.20, reversing early losses. The Standard & Poor's 500-stock index was up 2.72 points, or 0.2%, to 1347.05, and the Nasdaq Composite was up 2.09 points, or 0.1%, to 2904.08. The Dow finished at its highest close since May 2008.

Seven of the S&P 500's 10 sectors were higher, led by utilities and consumer-discretionary stocks. McDonald's was the largest gainer on the Dow, up 1.4%.

Talks between Greece and its creditors on a loan deal appeared to be nearing a conclusion Tuesday, though political leaders postponed a meeting later in the day to discuss the plans. A new fiscal pact is necessary for Greece to receive its next round of bailout funds.

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Also Tuesday, Federal Reserve Chairman Ben Bernanke told the U.S. Senate budget committee there has been a "modest increase" in the long-term normal rate of U.S. unemployment, noting it was a cause of concern to monetary-policy makers.

"These pretty-normal markets show that investors are reacting favorably to what's happening in Europe, that there's optimism and certainly not as much fear," said Brad Thompson, chief investment officer at Stadion Money Management in Watkinsville, Ga.

Meanwhile, the Bureau of Labor Statistics reported the number of U.S. job openings jumped 8.3% in December, to 3.4 million, as employers continued to increase the number of positions they are looking to fill. Other data showed credit-card debt in the U.S. surged for a second-straight month, as Americans increased borrowing in order to spend for the holiday season.