U.S. stocks traded in a narrow range Tuesday, after worse-than-expected U.S. housing and manufacturing data tempered the modest enthusiasm over Europe's progress on a new fiscal pact.
The Dow Jones industrial average (INDU) slid 21 points, or 0.2%.The S&P 500 (SPX) shed 0.6 points, or 0.1%. The Nasdaq added 2 points, or or 0.1%.
Stocks got an early boost after European Union leaders agreed Monday to strengthen a financial firewall and most members of the 27-nation group will sign a new fiscal compact. But the first summit of the year ended without new solutions for the debt crisis in Greece.
"There's positive news coming out of Europe, but it's still very tenuous with Greece," said Jeffrey Phillips, chief investment officer of Rehmann Financial. "Every time we see something positive there, we seem to see it reverse in four or five days."
The dollar fell against the euro and the British pound, but gained versus the Japanese yen.
Oil for March delivery dropped 37 cents to $98.39 a barrel.
Gold futures for April delivery rose $7.40 to $1,740.40 an ounce.
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