Investors started the day hoping for a relief rally as Greece gets a reprieve, at least for now, with a 130 billion euro bailout.
The Dow opened the day just shy of 13,000, later rising above the psychologically important level briefly, and we hadn't seen that happen in almost 4 years.
In earnings news, big box retailer Walmart (NYSE:WMT) posted earnings that fell short of expectations, while Home Depot (NYSE:HD) beat forecasts, as homeowners spent more on renovations.
Also among Dow components, Kraft (NYSE:KFT) reported earnings that were in line with expectations and forecast earnings growth of at least 9 percent this year.
Shares of Macy's (NYSE:M) surged after the iconic department store chain posted a 12 percent increase in quarterly earnings which topped expectations, following a strong holiday shopping season.
Tomorrow, we'll get a look at the numbers for weekly mortgage applications, as well as earnings from Dollar Tree (NASDAQ:DLTR) and Hewlett Packard (NYSE:HPQ).
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