Overnight Markets: Wall Street falls amid Greek debt talks

Wall Street inched lower on Monday as Europe's debt crisis persisted with Greek leaders wrestling with spending cuts to get aid and avert a default overshadowed growing optimism about economic growth.

The Dow Jones industrial average was down 17 points, or 0.13%, at 12,845. The Standard & Poor's 500 Index was down one point at 1,344. The Nasdaq Composite Index was down four points, or 0.13%, at 2,902.

Stocks fell as Greece failed to respond to €130 billion bailout terms from the European Union and International Monetary Fund missing another deadline. The country needs the funds by next month in order to meet big debt repayments and avoid a messy default.

Semiconductor companies declined led by Micron Technology, whose chief executive died on Friday in a plane crash. Micron shares fell 2.8%.

A gauge of homebuilders slumped after Raymond James Financial Inc. cut its recommendation for the sector. Toll Brothers slid 2.4%, Lennar decreased 2.8% and KB Home tumbled 3.5%.

Elsewhere, Boeing fell 1.2% as it ordered inspections of 787 Dreamliners after finding signs of fuselage delamination.

In earnings news, Hasbro gained 2.2% after the toymaker reported a fourth-quarter profit just above analysts' lowered expectations. Humana, the second-largest Medicare provider, registered a big rise in fourth-quarter profit, but revenues missed estimates, sending shares down 5.4%. Medco Health Solutions plunged 8.1% amid concern that its proposed acquisition by Express Scripts may be blocked.

In deal news, Fidelity National Financial agreed to acquire casual dining chain O'Charley's Inc for $9.85 a share, valuing the company at $221 million. The title insurer already owned a 9.5% stake. Shares of O'Charley's surged 41.8%.

Walt Disney added 1.2% after the world’s biggest theme-park operator was raised to “buy” from “neutral” at Davenport & Co. by equity analyst Michael Morris.

In Asia, equities swung between gains and losses on Tuesday till midday session as investors await the outcome of a second round of discussions in Greece.