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| US stocks end mixed on Greek news | US stocks end mixed on Greek news |
| (35 minutes later) | |
| (Close): US markets ended Wednesday mixed, as investors fretted over news that the European Central Bank (ECB) had withdrawn a waiver allowing banks to use Greek debt as collateral. | (Close): US markets ended Wednesday mixed, as investors fretted over news that the European Central Bank (ECB) had withdrawn a waiver allowing banks to use Greek debt as collateral. |
| The S&P 500 fell 8.52 points to 2,041.51, and the tech-focused Nasdaq shed 11.03 points to 4,716.70. | The S&P 500 fell 8.52 points to 2,041.51, and the tech-focused Nasdaq shed 11.03 points to 4,716.70. |
| The Dow Jones ended the day slightly up, rising 6.62 points to 17,673.02. | The Dow Jones ended the day slightly up, rising 6.62 points to 17,673.02. |
| Disney was the day's biggest winner, rising 7.6% after it reported a 33% rise in profits to $1.84bn (£1.12bn). | Disney was the day's biggest winner, rising 7.6% after it reported a 33% rise in profits to $1.84bn (£1.12bn). |
| After markets closed on Tuesday, the entertainment giant said earnings were lifted by strong sales of merchandise related to its film Frozen. | After markets closed on Tuesday, the entertainment giant said earnings were lifted by strong sales of merchandise related to its film Frozen. |
| Late on Wednesday the ECB announced that, as of next week, it would no longer accept Greek bonds as collateral from the country's banks, looking to raise money. | |
| "Suspension is in line with existing Eurosystem rules, since it is currently not possible to assume a successful conclusion of the programme review," the ECB said in a statement. | "Suspension is in line with existing Eurosystem rules, since it is currently not possible to assume a successful conclusion of the programme review," the ECB said in a statement. |
| The newly-elected Greek government is in talks with international creditors over the terms of its €240bn bailout. | The newly-elected Greek government is in talks with international creditors over the terms of its €240bn bailout. |
| The news sent the euro lower against the dollar. | The news sent the euro lower against the dollar. |
| 'Unpredictable' | 'Unpredictable' |
| General Motors shares rose 5.4% after the carmaker's fourth-quarter earnings beat analysts' expectations. | General Motors shares rose 5.4% after the carmaker's fourth-quarter earnings beat analysts' expectations. |
| Excluding one-off items, GM reported earnings per share of $1.19 for the quarter, well above forecasts of 83 cents. Net income was up to $1.1bn from $900m a year earlier. | Excluding one-off items, GM reported earnings per share of $1.19 for the quarter, well above forecasts of 83 cents. Net income was up to $1.1bn from $900m a year earlier. |
| Shares in Ralph Lauren sank more than 18% after the fashion house reduced its forecast for full-year revenue growth, the second time it has done so in four months. | Shares in Ralph Lauren sank more than 18% after the fashion house reduced its forecast for full-year revenue growth, the second time it has done so in four months. |
| The firm now expects revenue to grow by 4% on a constant currency basis for the year to the end of March. | The firm now expects revenue to grow by 4% on a constant currency basis for the year to the end of March. |
| In October, Ralph Lauren had cut its growth forecast to 5-7% from an earlier estimate of 6-8%. | In October, Ralph Lauren had cut its growth forecast to 5-7% from an earlier estimate of 6-8%. |
| "Foreign exchange and global consumer spending remain unpredictable, and we are planning our business accordingly," said chief operating officer Jacki Nemerov. | "Foreign exchange and global consumer spending remain unpredictable, and we are planning our business accordingly," said chief operating officer Jacki Nemerov. |