US stocks were little changed on Wednesday, recovering from morning losses after a report suggested a European rescue plan for debt-burdened Greece may be presented this week. The French daily Le Monde wrote that France and Germany were set to present a plan at a European Union summit on Thursday that was aimed at preventing Greece from going bankrupt, quashing fears that a plan would not be ready soon.
Stocks initially fell after US Federal Reserve Chairman Ben Bernanke gave his most detailed description to date of how the Fed aims to dismantle the extensive emergency supports it put in place to bolster the economy. The Dow Jones industrial average was down 3.10 points, or 0.03 percent, at 10,055.54. The Standard & Poor's 500 Index was down 0.58 points, or 0.05 percent, at 1,069.94. The Nasdaq Composite Index was down 1.54 points, or 0.07 percent, at 2,149.33.