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Stocks end mixed as promise of Greek debt fix dims

Stocks end mixed as promise of Greek debt fix dims

September 20th, 2011 in News

NEW YORK (AP) - Investor optimism faded in a hurry Tuesday after two days of conferences ended with no resolution to Greece's debt crisis.

Stocks erased nearly all of their gains in the last hour of trading after rallying for much of the day on hopes the Fed would stimulate the economy.

At the closing bell, the Dow Jones industrial average was left with a gain of 7.65 points, or 0.1 percent, at 11,408.66. It had been up as much as 149.21 points earlier in the day.

The Standard & Poor's 500 index fell 2, or 0.2 percent, to 1,202.09. The Nasdaq composite fell 22.59, or 0.9 percent, to 2,590.24.

Many analysts believe the Fed will announce a new stimulus plan at the end of a two-day policy meeting Wednesday. But another two-day meeting, a teleconference between Greek officials and international lenders, spurred sellers late in the day.