Stocks Struggle Amid Greece Worries

Stocks were weak Wednesday amid jitters about Greece's debt problems and the 10-year Treasury auction this afternoon.

The Dow was down more than 20 points, led by Verizon , P&G and 3M .

Cisco and Bank of America were among the top Dow gainers.

Banks got a boost as Goldman raised its outlook on several regional banks, including KeyCorp , which it upgraded to "buy" from "neutral."

Techs showed pockets of strength, with Micron Technology up more than 1 percent and Palm up over 9 percent.

After steadily marching higher for the past five weeks, with major indexes reaching their highest levels in a year and a half and the Dow coming within shooting distance of 11,000, stocks have eased in the past few sessions. The Dow ended lower Tuesday, with weakness in retail and homebuilder stocks.

Wednesday's calendar is light on economic numbers, but heavy on Federal Reserve-related speakers. The only government release is a February read on consumer credit, out at 3 pm New York time, with the number expected to drop by $1 billion after a rise of $5 billion during January. The Mortgage Bankers Association is out with its weekly mortgage applications report at 7 am, and the EIA will release the oil inventory numbers at 10:30 am.

Three Fed speeches are within a 2-hour period Wednesday, starting with New York Fed President William Dudley, who will speak at the Economic Club of New York at 12:15 pm. Fed Chairman Ben Bernanke speaks to a Dallas luncheon at 1 pm, and Kansas City Fed President Thomas Hoenig will be appearing in Sante Fe, New Mexico at 2 pm.

Following a strong auction of 3-year notes Tuesday, the Treasury will sell $21 billion in 10-year notes Wednesday, with the results available shortly after 1 pm.

A few earnings reports to note:

Family Dollar shares jumped over 3 percent after the dollar-store chain beat earnings expectations and said it expects same-store sales to be up 6 to 8 percent in the current quarter.

And Monsanto fell after the agricultural-products maker missed its earnings target, citing competitive pressures.

After the bell today, results are due out from home-goods retailer Bed Bath & Beyond .

On the M&A front, Renault, Nissan and Daimler officially announced their deal to swap stakes and jointly develop small cars and engines.

Australia's Macarthur Coalrejected a $3.27 billion takeover bid from U.S. coal miner Peabody Energy , with analysts saying Peabody will likely have to raise that bid by about 10% to be successful.

Still to Come:

WEDNESDAY: Fed's Dudley, Hoenig speak; 10-year auction; consumer credit; Earnings from Family Dollar, Bed, Bath & Beyond
THURSDAY: BOE, ECB announcements; weekly jobless claims; Fed's Kocherlakota speaks; 30-year auction; Earnings from Pier 1, Chevron (interim results)
FRIDAY: Wholesale trade

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