INVESTORS in the US brushed off fears that a leftist victory in Greece would bring fresh crisis to the Eurozone and energy stocks advanced.
While the US has limited direct exposure to Greece’s relatively small economy, extended volatility in the region could hurt multinational companies.
“There was a lot of trepidation in the market going into the Greek election ... but by this morning the Syriza win was priced into the market already,” said Robert Francello, head of equity for Apex Capital.
The Dow Jones industrial average rose 6.1 points, or 0.03 per cent, to 17,678.7, the S&P 500 gained 5.27 points, or 0.26 per cent, to 2,057.09 and the Nasdaq added 13.88 points, or 0.29 per cent, to 4,771.76.
With 19 per cent of S&P 500 companies having reported earnings, 71.6 per cent have topped analyst’s expectations, while 54.7 per cent have beaten revenue forecasts.