Stocks turn mostly positive in midafternoon

By msnbc.com staff and news services

Stocks turned mostly higher in midafternoon trading Tuesday as the S&P 500 climbed back into positive territory after bouncing around earlier.

Approaching 2 p.m. ET, the Dow Jones industrial average was up 0.5 percent, the S&P rose 0.1 percent and the Nasdaq traded 0.3 percent lower.

Investors seemed unclear of what S&Ps Monday threat to eurozone countries would mean. The rating agency warned 15 countries that it could ?downgrade their credit ratings within the next 90 days. Rumor of the announcement dampened a rally Monday.

"Markets have been pricing in an environment that's less than AAA, and the fact that it has already been incorporated into most investors' thinking is why we're not seeing a bigger sell-off today," Leo Grohowski, chief investment officer at BNY Mellon Wealth Management in New York, told Reuters.

"Still, the timing of a warning like this is never completely expected," added Grohowski, who helps oversee $170 billion.

The Associated Press and Reuters contributed to this report.

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Source: http://bottomline.msnbc.msn.com/_news/2011/12/06/9252339-stocks-turn-mostly-positive-in-midafternoon

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