In a tumultuous final 80 minutes Tuesday, stocks climbed out of the doldrums to close with gains.
At the close on Wall Street, The Dow Jones industrial average was up 93.3 points, about 0.5 percent, at nearly 17,777. The Standard & Poor's 500 index gained 12.6 points, about 0.6 percent, to 2,081.3, and the Nasdaq composite added 5.5 points, about 0.1 percent, to 4,997.5.
CRUDE: As markets closed, the price of an Aug. 15 contract of benchmark U.S. crude gained 46 cents to $52.99 a barrel on the New York Mercantile Exchange. On Monday, the contract plummeted 8 percent amid concerns that the crisis in Greece would trigger a slowdown in Europe.
Stocks moved upward as investors waited to see what happens at a summit meeting of European leaders discussing Greece's strained finances.
The gains Tuesday were led by utilities stocks and makers of consumer staples, safe-play sectors investors tend to favor when they're fearful of market swings.
Materials stocks fell as prices for metals and other commodities dropped. Newmont Mining lost 3 percent.