On Tuesday, stocks ended little changed paring gains after the Dow Jones Industrial Average topped 13,000 for the first time since May 2008, and as economy's prospects were damped by higher oil prices. Dow has went up 6.1 percent to climb above 13,000 before ending at 12,965, while the S&P has climbed 8.3 percent after being driven by signs of improvement in the economy and stabilization of Europe's debt crisis since the start of the year.
Stocks were somehow supported by Greece able to secure a bailout but investors remarked that the news had mostly been priced in to the market.
Investors were provided with a reason to sell after fresh high in oil prices. The U.S. crude futures rose 2.5 percent to a nine-month high of $105.84 a barrel on concerns over Iran supply.
Despite the upbeat news on Greece "we're running into some minor selling pressure, given the extent of the rally we've seen," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. In addition, "gas prices across country are raising some questions about earnings," he said.
The Dow Jones industrial average .DJI finished up 15.82 points, or 0.12 percent, at 12,965.69. The Standard & Poor's 500 Index .SPX was up 0.98 point, or 0.07 percent, at 1,362.21. The Nasdaq Composite Index .IXIC was down 3.21 points, or 0.11 percent, at 2,948.57.