U.S. stocks finished higher on Tuesday, on hopes that Greece is nearing a deal to secure more money from a monetary aid fund package. In world markets, European stocks ended mixed, as the DAX in Germany fell 0.1 percent and the CAC 40 in France rose 0.1 percent. Asian markets ended lower, with the declines led by the Shanghai Composite falling 1.7 percent. Investors worried that Greek politicians might not reach an agreement on reforms needed to secure a fresh monetary aid fund to avoid a default. But they said the tone improved after reports suggested that progress has been made in the negotiations. In U.S. economic news, The Federal Reserve said consumer credit rose by $19.3 billion to $2.5 trillion in December. Analysts expected the report to show that consumer credit expanded by $8.5 billion. Meanwhile, the number of available jobs in the United States rose in December to a near three-year high, the Labor Department said. Companies and governments posted 3.38 million jobs in December, which is up from 3.12 million in the previous month and nearly matches the three-year high in September. In U.S. company news, Coca-Cola shares rose after the beverage maker topped earnings and sales estimates for the fourth quarter. Coca-Cola earned $1.65 billion in the fourth quarter. That's down significantly from $5.77 billion in the fourth quarter of 2010. The U.S. dollar fell against the euro and rose against the yen. Light sweet crude oil for March delivery rose $1.50 to $98.41 a barrel on the New York Mercantile Exchange. Gold futures rose $23.50 to $1,748.40 an ounce. The Dow Jones industrial average rose 33.1, or 0.3 percent, to 12,878.20. The broader Standard & Poor's 500 index rose 2.72, or 0.2 percent, to 1,347.05. The technology-heavy Nasdaq composite index rose 2.09, or 0.1 percent, to 2,904.08.
