US shares finish higher but ease back from early gains
- 1 July 2015
- From the section Business
(Close): US stocks eased back after making a strong start to the day on news that Greece had offered new concessions to the country's creditors,
The tech-focused Nasdaq ended 0.53% better at 5,013.1 points.
Airlines were among the main losers after disclosure that they are being investigated by the Justice Department over possible price collusion.
Shares in Chubb jumped by 27% after insurer Ace said it was buying the company in a deal worth about $28.3bn.
Teladoc made a big splash on its market debut, with shares of the on-demand medical consultation provider rising 55.7% to $29.59.
Although hopes that Greece might be inching towards a resolution helped buoy markets, uncertainty is still weighing on shares, analysts said.
"It feels to me there's still a lot of money on the sidelines waiting for a resolution," said Brian Fenske, head of sales trading at ITG in New York.