US markets made a mixed closing on Tuesday, just a day after a buoyant rally, as concerns about Greece's potential exit from the eurozone resurfaced in the final hour. Though, the markets remained in jubilant mood throughout the day on report that existing-home sales rose 3.4 percent from March to April, providing more evidence of an improving US housing market. However, the concern grew after Fitch lowered its ratings on Japan's sovereign debt, while the cautiousness heightened as former Greek Prime Minister Lucas Papademos was reported saying that preparations for an exit are being considered for Greece.
National Association of Realtors reported that existing home sales rose 3.4% to a seasonally-adjusted-annual-rate of 4.62 million in April, which was slightly above expectations of 4.6 million units.
Meanwhile, European leaders will be meeting again on Wednesday to discuss ways to soften austerity measures that are causing political turmoil in Greece and other weaker European nations. They will also discuss other controversial policies including the creation of eurozone bonds, which has been stiffly resisted by Germany.
The Dow Jones Industrial Average closed marginally lower by 1.67 points or 0.01 percent to close at 12,502.81. The S&P 500 inched up by 0.64 points, or 0.05 percent, to finish at 1316.63. The Nasdaq was down by 8.13 points, or 0.29 percent, to settle at 2839.08.
Almost all the Indian ADRs closed in red on Tuesday, HDFC Bank was down by 1.30%, ICICI Bank was down by 0.53%, Infosys was down by 0.06%, Wipro was down by 0.01% and Tata motors was down by 0.39%.