Stocks are higher and oil is lower

Stocks are higher and oil prices are lower in morning trade on Tuesday.

Near 10:25 am ET, the Dow was up 51 points, the S&P 500 was up 6 points, and the Nasdaq was up 15 points.

The price of West Texas Intermediate crude oil was also down more than 2.5% to around $US51.50 a barrel.

On Tuesday, markets were still focused on headlines out of Greece, which showed conflicting reports about potential for progress in Greece’s negotiations with its creditors.

Business Insider’s Mike Bird summarized the action as follows, here:

Other market rumours are throwing Greek stocks all over the place Tuesday. At 12:11 p.m. GMT, MNI reported that the EU Commission was tabling a six-month deal for Greece. That would most likely mean the bridging loan that Varoufakis wants to tide Greece over until the end of the summer. Nothing is confirmed, and the EU says there is nothing formal on the table, but as of 1:20 p.m. GMT, Greek stocks are up by nearly 6%.

In other news, the latest JOLTS report from the BLS showed that in December job openings in the US surged above 5 million for the first time since January 2001.

Analysts at Credit Suisse downgraded their outlook on the US stock market, taking their mid-year and year-end price targets for the S&P 500 lower.

Meanwhile, hedge fund manager Dan Loeb said in his latest quarterly letter to investors that we are in a “haunted house market.”

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