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Markets post early gains

NEW YORK, Feb. 21 (UPI) -- U.S. markets headed higher Tuesday morning after financial leaders in Europe announced an agreement to provide Greece with a $172 billion bailout loan.

The deal has been largely priced into the market already. Having kept investors off balance for months, closure on the deal became clearer Friday before the President's Day holiday in the United States.

In midmorning trading Tuesday, the Dow Jones industrial average just shy of 13,000 points, added 40.91 points or 0.32 percent to 12,990.78. The Standard & Poor's 500 index added 5.49 points or 0.4 percent to 1,366.72, just short of a four-year high. The Nasdaq composite index gained 11.12 points or 0.38 percent to 2,962.90.

The yield on the benchmark 10-year treasury note fell 11/32 to yield 2.047 percent.

The euro rose to $1.3265 from Monday's $1.3242. Against the yen, the dollar rose to 79.74 yen from 79.63 yen.

In Tokyo, the Nikkei 225 index shed 0.23 percent, 22.07 points, to 9,463.02.


Source: United Press International (February 21, 2012 - 11:02 AM EST)

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