U.S. stocks mixed after data, eyes on Fed; Dow Jones down 0.25%

Investing.com - U.S. stocks were mixed on Tuesday, after the release of mixed U.S. economic reports, while investors awaited the outcome of the Federal Reserve's policy meeting on Wednesday.

During early U.S. trade, the Dow Jones Industrial Average fell 0.25%, the S&P 500 index edged down 0.13%, while the Nasdaq Composite index added 0.13%.

Data showed that Chicago's purchasing managers' index fell to 49 in April from a reading of 52.4 the previous month, disappointing expectations for a rise to 52.5 and hitting its lowest level since September 2009.

The report came after data showed that the S&P/Case-Shiller home price index rose more-than-expected in February, increasing for the ninth consecutive month.

Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 9.3% in February from a year earlier, above expectations for a 9% increase.

U.S. home prices in January rose by 8.1%.

Among earnings, Pfizer reported quarterly results that fell short of market expectations and lowered its full-year outlook, sending shares down 3.02%.

U.S. Steel plummeted 2.05% after posting a quarterly loss as its sales fell more than 10%.

On the upside, U.S.-traded BP shares surged 2.45% after the oil giant announced a sharp rise in first-quarter earnings, with the sale of its Russian venture TNK-BP offsetting a fall in oil and gas production.

Adding to gains, Herbalife climbed 0.45% after the nutrition company at the center of a battle between hedge-fund managers Bill Ackman and Carl Icahn, raised its 2013 earnings forecast as first-quarter profit topped analysts’ estimates.

In company news, Time Warner Cable added 0.11% after saying it hired former AOL CEO Arthur Minson as chief financial officer, replacing Irene Esteves, who is departing.

Meanwhile, financial stocks were also mostly higher. JP Morgan gained 0.55% and Citigroup advanced 0.56%, while Goldman Sachs rallied 0.70%. Bank of America saw shares slip 0.16% however.

Elsewhere, Bloomberg reported that US Airways and AMR Corp.’s American Airlines are negotiating with banks including Barclays and Citigroup to provide a branded credit card once they complete a merger creating the world’s largest carrier.

US Airways shares were down 0.45% at the open of the U.S. trading session.

Across the Atlantic, European stock markets were mixed to lower. The EURO STOXX 50 eased 0.07%, France’s CAC 40 slipped 0.20%, Germany's DAX climbed 0.61%, while Britain's FTSE 100 slid 0.31%.

During the Asian trading session, Hong Kong's Hang Seng Index gained 0.69%, while Japan’s Nikkei 225 Index slipped 0.17%.

Later in the day, the U.S. was to release data on consumer confidence.