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U.S. stocks open higher on Greece hope

Xinhua, February 10, 2015 Adjust font size:

U.S. stocks opened higher Tuesday as concerns over the Greek debt negotiations continue to weigh on investors' sentiment.

Wall Street was boosted by developments in the Greece-euro impasse in the absence of domestic macro data in the early trading.

Greece's new government was confident that a bridge agreement could be reached in next week's euro group meeting and a final deal on the resolution of the Greek debt load could follow in September, according to Greek Finance Ministry sources.

In corporate news, Coca-Cola reported better-than-expected quarterly earnings Tuesday. The company announced fourth quarter earnings per share of 17 cents, and its global volume growth was 2 percent for the full year of 2014. Coca-Cola' shares jumped over four percent shortly after the opening.

UBS, the biggest Swiss bank, released its fourth-quarter earnings Tuesday as well. Following a fourth-quarter net profit attributable to shareholders of one billion Swiss Frances, UBS Group AG's net profit for 2014 increased 13 percent year over year.

But investors were alerted that the Swiss franc's strength could hit UBS's future profits. Shares plunged 4.27 percent in early Tuesday.

Shortly after the opening bell, the Dow Jones Industrial Average rose 86.99 points, or 0.49 percent, to 17,816.20. The S&P 500 gained 10.02 points, or 0.49 percent, to 2,056.76. The Nasdaq Composite Index increased 25.31 points, or 0.54 percent, to 4,751.33.

U.S. stocks slid after wavering below flatline in most of the trading session on Monday, as market sentiment was dampened by rising tensions surrounding Greek debt negotiations. Endi