Bulls Fail to Prevail Amid Lack of Greece Relief Details

Despite the agreement of European leaders to provide some sort of support to help debt- ridden Greece and following a larger-than-expected drop in weekly initial jobless claims, stocks are lower as the agreement was widely expected and amid the lack of any details of a plan out of the Eurozone. Treasuries are mixed, paring early losses that came initially after the employment data. In equity news, PepsiCo reported 4Q earnings that matched analysts' forecasts, while Activision Blizzard, Viacom Inc, and Allstate all topped the Street's forecasts. In M&A news, FirstEnergy Corp and Allegheny Energy Inc have agreed to combine for approximately $4.7 billion. Overseas, Asia moved higher amid some favorable data, while Europe has turned lower amid the lack of Greek support details and a plethora of earnings reports.

Unchanged as Jobless Claims Fall and Greece Finds Support

The equity markets are nearly unchanged in morning action as traders react to a larger-than-expected decline in weekly initial jobless claims and are showing little enthusiasm to the European Union's announcement that is has agreed to offer some help to Greece, as details of a plan still have not been released. Treasuries are lower following the employment report. In equity news, PepsiCo reported 4Q earnings that came up just shy of analysts' forecasts and its revenues matched expectations, while Activision Blizzard and Viacom Inc. both topped the Street's forecasts. Overseas, Asia moved higher amid some favorable data, and Europe is mostly in the green amid a plethora of earnings reports and as traders react to the support for Greece.