The Business Times

Dow, S&P 500 dip as market eyes Greece talks

Published Fri, Feb 20, 2015 · 02:57 PM

[NEW YORK] The Dow and S&P 500 opened slightly lower on Friday as markets eyed talks between Greece and the eurozone on extending a bailout program that expires this month.

Five minutes into trade, the Dow Jones Industrial Average stood at 17,958.54, down 27.23 points (0.15 per cent).

The broad-based S&P 500 dipped 2.26 (0.11 per cent) to 2,095.19, while the tech-rich Nasdaq Composite Index was essentially flat, rising 0.10 to 4,924.80.

Finance ministers of the eurozone's 19 member countries were to meet in Brussels on Friday to consider a proposal by Athens to extend its European Union loan program.

Germany has opposed Greek efforts to extend the financing without tough austerity measures. The fog surrounding Greece has depressed trading volumes, said analyst Patrick O'Hare.

"Press reports continue to highlight that the parties want to work with one another but that there are still deep differences of opinion," he said.

"In other words, the reports tell us nothing other than that nothing has been resolved."


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