The US markets closed volatile session slightly higher on Tuesday, as investors were whipsawed by the vagaries of Greece’s episodic debt negotiations. Markets appeared to rise on reports that Greece proposed a two-year deal using the euro zone bailout fund. The S&P 500 ended the quarter lower, snapping a nine-quarter winning streak. On the economy front, US consumer confidence jumped in June. Its index rose to 101.4 in June from a downwardly revised 94.6 in May. Both the present situation and expectations indexes advanced. Over the past two months, consumers have grown more confident about the current state of business and employment conditions. In addition, they are now more optimistic about the near-term future, although sentiment regarding income prospects is little changed. Chicago PMI rose in June but remained under the 50 level, indicating a slight contraction in conditions. That’s the fourth month below 50 this year. The index rose to 3.2 points to 49.4 in June, rising off a 5.5-year low. June’s advance was led by a 8.8-point gain in new orders. Separately, US house prices rose 1.1% in April, supported by the spring sales market, with gains in all the cities tracked by the Case-Shiller 20-city composite index released, however the gain fell short of expectations.
The Dow Jones Industrial Average added 23.16 points or 0.13 percent to 17,619.51, the Nasdaq was up 28.40 points or 0.57 percent to 4,986.87 and the S&P 500 added 5.47 points or 0.27 percent to 2,063.11.
The Indian ADRs markets ended mostly in green on Tuesday, Dr. Reddy’s Lab was up 1.43%, Tata Motors was up by 0.46% and ICICI Bank was up by 0.23%. On the other hand, Wipro was down by 0.12% and Infosys was down 0.01%.