NEW YORK (AP) - As world leaders searched for a way out of Europe's mounting debt crisis, U.S. investors moved to the sidelines.
The major market indexes closed modestly higher, after wavering between slight gains and losses throughout the morning. Trading volume was light and the stock moves were small. In Europe, markets were mixed.
The Dow Jones industrial average rose 26.49 points, or 0.2 percent, to 12,127.95. It traded within a range of 75 points, one of the narrowest of the year.
Finance ministers and central bank presidents from the world's seven wealthiest nations held an emergency conference call to discuss how Europe can heal its weakest countries without alienating the stronger ones that have to foot the bill. Leaders are worried that Spain and Cyprus, which are scrambling for money to prop up their troubled banks, will soon need to be bailed out by their richer counterparts.
The call didn't yield any concrete solutions for Europe, at least not publicly. Several investors who were unsure of what to do Tuesday said they expect more clarity - and perhaps more drama - later this month, after Greece holds elections June 17 and world leaders from the nations known as the Group of 20 meet for the two days afterward.
At the end of the day, the Standard & Poor's 500 index closed 7.32 points higher to 1,285.50. The Nasdaq composite index rose 18.10 points to 2,778.11.