US STOCKS-Wall St climbs after news of draft debt deal for Greece

viernes 20 de febrero de 2015 15:00 GYT

* Intuit rises after results

* Indexes up: Dow 0.4 pct, S&P 0.2 pct, Nasdaq 0.3 pct (Updates to afternoon trading)

By Caroline Valetkevitch

NEW YORK, Feb 20 (Reuters) - U.S. stocks edged higher on Friday after euro zone finance ministers and Greece drafted an agreement that may form the basis for a financial rescue package for Greece.

The news buoyed all three major U.S. indexes, and helped the S&P 500 and Dow to rebound into positive territory. With the advance, Nasdaq was set for its eighth session of gains as it approached its March 2000 all-time high.

Investors have been waiting for signs of progress in negotiations over the Greece debt situation, and the uncertainty has triggered caution among market participants. Officials stressed that there was still no formal agreement in the full meeting of the Eurogroup of 19 finance ministers.

"Everyone is just waiting for whether there is a deal or no deal. Obviously with situations like this, there are all types of leaks, and both sides try to get a certain message out there. You have to be cautious," said Michael O'Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.

Shares of the Global X FTSE Greece 20 exchange-traded fund jumped 10.3 percent, while U.S.-listed shares of the National Bank of Greece were up 20.5 percent at $1.94.

At 1:29 p.m., the Dow Jones industrial average rose 71.04 points, or 0.39 percent, to 18,056.81, the S&P 500 gained 3.57 points, or 0.17 percent, to 2,101.02 and the Nasdaq Composite added 12.61 points, or 0.26 percent, to 4,937.31.   Continuación...