The Dow Jones Industrial Average topped 13,000 for the first time since May 2008 before falling back to close flat on Tuesday, in a bumpy day spurred by news of a long-awaited new bailout for Greece.

After a slow start the blue-chip index pushed across the key level to touch 13,005.04, a level last seen when the markets began to sink in early 2008 as the financial crisis broke and a deep recession took hold.

But profit taking and less-than-impressive results from big companies like Wal-Mart left trade to sag and the index closed almost even, up 16.20 points (0.13 per cent) at 12,966.07.

The broad-based S&P 500 finished up a bare 1.01 points (0.07 per cent) to 1,362.24, while the tech-heavy Nasdaq Composite slipped 3.21 (0.11 per cent) to 2,948.57.

Shares mainly took their cue from the long-awaited deal reached in Brussels early on Tuesday on a new bailout of Greece.

The deal — which analysts say still harbours deep weaknesses — includes a 107 billion euros ($A132.32 billion) writedown of the country’s debt by private debt holders and 130 billion euros in new financing from the European Union and the International Monetary Fund.

“Chalk one up for European leaders as they were finally able to agree to the second bailout package for Greece. Now the hard work begins — reinventing Greece’s economy,” said Scott Atkinson of Briefing Research.