Stocks picked up in late trading Tuesday, sending the S&P 500 to close at a new high and the Dow Jones Industrial to end once again above 18,000. The markets reversed and turned positive on news Greece will ask for an extension to its bailout package. Oil prices gained $0.75 a barrel after dropping below $51 earlier in the session. Tuesday’s expiration made the March contract volatile with heavy volume. Energy companies Denbury Resources (DNR) and Newfield Exploration (NFX) ended with gains. Cablevision (CVC) was one of the S&P 500’s biggest decliners. The stock lost more than 4% after UBS (UBS) downgraded the shares to SELL from NEUTRAL. The analyst there thinks Verizon (VZ) will give the cable TV operator increased competition. Earnings drove Waste Management (WM) to jump more than 5%. The company beat Q4 earnings expectations and gave upbeat guidance for 2015.
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