U.S. stocks mixed, Treasuries flat; Fed meet ahead

NEW YORK Tue Jan 29, 2013 8:57pm IST

A flag is seen outside the New York Stock Exchange in New York, January 4, 2013. REUTERS/Eric Thayer

A flag is seen outside the New York Stock Exchange in New York, January 4, 2013.

Credit: Reuters/Eric Thayer

Related Topics

Stocks

   

NEW YORK (Reuters) - U.S. stocks were mixed and U.S. Treasury prices traded near flat on Tuesday with investors cautious about a two-day Federal Reserve policy meeting slated to end on Wednesday.

Investors were reluctant to make big bets on some mixed U.S. economic data, given the run-up in stocks in recent weeks and risk in the form of a slew of economic reports throughout the week and the Fed meeting.

U.S. consumer confidence dropped in January to its lowest in more than a year as Americans were more pessimistic about the economic outlook and their financial prospects, according to a private sector report released on Tuesday.

That followed an earlier report that showed U.S. single-family home prices rose in November, building on a string of gains that point to a housing market that is on the mend.

"We need to slow down and digest the huge move we've had," said Christian Wagner, chief executive officer at Longview Capital Management in Wilmington, Delaware.

The gains have largely come on a strong start to the corporate earnings season and that trend continued on Tuesday, with positive results from both Ford Motor Co(F.N) and Pfizer Inc(PFE.N).

The Dow Jones industrial average was up 6.06 points, or 0.04 percent, at 13,887.99. The Standard & Poor's 500 Index was down 1.12 points, or 0.07 percent, at 1,499.06. The Nasdaq Composite Index was down 16.71 points, or 0.53 percent, at 3,137.59.

In the U.S. Treasury debt market, benchmark 10-year yields proved unable to hold above the key 2 percent level touched on Monday with investors looking ahead to a debt auction later in the day as well as the Fed meeting..

The 10-year U.S. Treasury note was up 4/32, with the yield at 1.9507 percent.

Brent crude and U.S. oil prices were mixed on Tuesday but, in line with equities, movements were limited with Brent crude falling 11 cents to $113.39 a barrel and U.S. crude rising 62 cents to $97.06.

The euro extended gains versus the dollar, breaking above key resistance to hit a 14-month high.

(Reporting by Nick Olivari; Editing by Chizu Nomiyama)

FILED UNDER:
  • Most Popular
  • Most Shared

DEFENCE

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage