First the good: Stocks rose for the third straight session Tuesday. The bad: They closed well off the session's best levels.
The NYSE composite rose 0.5% and closed above its 50-day moving average. But the index was up as much as 0.9%. The Nasdaq gained 0.3%, down from 0.8% at its intraday peak. Meanwhile, the S&P 500 edged up 0.2% and the Dow eked up a fraction.
Volume rose on both major exchanges.
The market started off strong, thanks to more bailout optimism for Greece and more M&A news. Greek lawmakers are expected to announce new efforts Wednesday to cut its heavy debt.
The dollar fell against the euro and the yen, but pared losses just before 1 p.m. EST. Stocks faded soon after that. The Dow dipped into negative territory before bouncing back a bit.
Considering Monday's follow-through session, Tuesday's fading conclusion was a letdown.
But the indexes' gains were enough to avoid a distribution day, which would have clouded the market's picture considerably. Also, some leaders fared well.
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