(CNBC) U.S. stocks closed mildly higher on Thursday, giving back more than half of opening gains as investors remained cautious on China and Greece. ( Tweet This )
"I think the market's really much in a 'wait-and-see' mode on Greece and China," said Paul Nolte, portfolio manager at Kingsview Asset Management. We want to see "if there's more to the rally than last night's bounce."
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The Dow Jones industrial average traded about 60 points higher after surging as much as 249 points in the open as the major averages briefly jumped nearly 1 percent or more.