US markets end higher on better economic data

ALSO READ See how Asian markets are doing

In the US markets, stocks squeezed out a small gain for the third-straight session but the day's gains were limited as enthusiasm over news of the Greek deal faded. The Dow however closed at its best level since May 2008.

Dow Jones Industrial Average was up 0.05% or 6.51 points at 12890.46. Nasdaq Composite was up 0.39% or 11.37 points at 2927.23. Standard & Poor's 500 was up 0.15% or 1.99 points at 1351.95.

In economic data, weekly jobless claims came in better than expected. Unemployment benefit applications dropped to 358,000, the second-lowest level in nearly four years. 

In economic data to watch out for, the international trade data for December is expected today. It is expected to remain largely unchanged month on month.

Consumer sentiment data for February will be announced as well. It is expected to show a slight decline. The treasury budget report also comes out today.

After months of hectic negotiations, Greek leaders clinched a long-stalled deal on reforms and austerity measures needed to secure a bailout and avoid a messy default.

In the currency space, the euro rose to a fresh two-month high against the dollar as Greek leaders clinched a deal on reforms and Europe's central bank chief flagged tentative improvement in the euro zone economy. The dollar index was below 79 marks.

In the commodity space, Brent crude prices rose over a percent to over USD 118, close to a 6-month high. Nymex crude prices too rose on Greek deal news.

In precious metals, gold prices eased against the dollar in choppy trading after Greece clinched a deal.