NEW YORK (Reuters) - World stocks fell but were off lows and commodities declined on Friday as a pledge by leading economies to shore up the financial system failed to alleviate fears of a Greek default and global economic slump.
U.S. stocks opened lower but then rebounded. European shares fell 0.2 percent, with banking shares suffering the most after Deutsche Bank said the region's banks may take a bigger-than-expected hit from a swap arrangement on Greek government debt.
U.S. equity index futures cut losses shortly before the open and briefly turned positive on market talk that the European Central Bank is considering stimulus measures to cope with the region's sovereign debt crisis. The equity rebound helped push Treasury debt prices lower.
After the open, Wall Street edged higher, led by a bounce in industrial and financial shares. The Dow Jones industrial average edged up 1.17 points, or 0.01 percent, to 10,735.00. The S&P 500 added 2.79 points, or 0.25 percent, to 1,132.35. The Nasdaq Composite gained 8.91 points, or 0.36 percent, to 2,464.58.
U.S. stocks opened lower but then rebounded. European shares fell 0.2 percent, with banking shares suffering the most after Deutsche Bank said the region's banks may take a bigger-than-expected hit from a swap arrangement on Greek government debt.
U.S. equity index futures cut losses shortly before the open and briefly turned positive on market talk that the European Central Bank is considering stimulus measures to cope with the region's sovereign debt crisis. The equity rebound helped push Treasury debt prices lower.
After the open, Wall Street edged higher, led by a bounce in industrial and financial shares. The Dow Jones industrial average edged up 1.17 points, or 0.01 percent, to 10,735.00. The S&P 500 added 2.79 points, or 0.25 percent, to 1,132.35. The Nasdaq Composite gained 8.91 points, or 0.36 percent, to 2,464.58.
