DOW - Stocks End Sharply Higher, But Down for May

Dow 12,569.79 +128.21 +1.03%

By: Abby Schultz, JeeYeon Park

Stocks ended higher for the day on optimism over prospects of a Greek bailout package, despite several reports of economic weakness, but the gains weren't enough to erase a month of losses.

The Dow Jones Industrial Average fell 240.75 points in May or 1.9 percent to close at 12,569.79, snapping a five-month winning streak. For Tuesday, the blue chip average gained 128.21 points or 1 percent.

The S&P 500 fell 18.41 points in May, or 1.35 percent, to close at 1,345.20. On Tuesday, the broad market index rose 14.10 points or 1 percent.

The Nasdaq fell 38.24 points in May, or 1.33 percent, to close at 2,835.30. On Tuesday, the tech-heavy index gained 38.44 points, or 1.4 percent.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, rose 4.75 percent in May to 15.45.