Wall Street Edges Up After Sell-Off; Europe in Focus

Reuters/Andrew Winning

Chuck Mikolajczak of Reuters reports that stocks advanced modestly on Tuesday, with investors exercising caution as a Spanish bill auction met with falling demand ahead of a summit by EU leaders later in the week.

Flagging optimism about the summit this week sent stocks lower in the prior session, but ongoing worries provoked only moderate buying interest.

“There is not a reason in the world to buy the market this morning, certainly nothing in the overnight that would suggest there is any kind of a good foundational reason to buy the market – even an oversold condition,” said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

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