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Stocks end with modest gains after investors turned cautious

Traders Luke Scanlon, left, and Glenn Kessler work

Traders Luke Scanlon, left, and Glenn Kessler work on the floor of the New York Stock Exchange, Wednesday, June 10, 2015. Photo Credit: AP / Richard Drew

Stocks turned cautious Thursday morning and the market stayed positive but flat for the rest of the day after the International Monetary Fund reported no progress in talks on Greece's debt crisis.

At the close on Wall Street, the Dow Jones industrial average was up nearly 39 points, about 0.2 percent, at 18,039.4; it had been up 0.5 percent in morning trading. The Standard & Poor's 500 index held on and closed up 3.7 points, about 0.2 percent, at 2,108.5; it too had been more than double earlier. The Nasdaq composite ended the day up 5.8 points, about 0.1 percent, at 5,082.5; about half what it had been earlier.

As the markets closed, the price of U.S. benchmark crude oil was off 75 cents at $60.66 a barrel on the New York Mercantile Exchange. A rise in the price Wednesday helped fuel market gains.

A spokesman for the International Monetary Fund says its team has returned to Washington after negotiators made "no progress" on resolving Greece's debt crisis.

"We are well away from an agreement," spokesman Gerry Rice told reporters Thursday. "There are major differences between us in most key areas. There has been no progress in narrowing these differences recently."

The tone of his comments contrasted with more upbeat reactions in Europe, where officials indicated a deal could be reached in coming days.

Rice said the IMF remains engaged. "The IMF doesn't leave the table."


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