NEW YORK: US stocks slipped Tuesday as investors mulled mixed signals on the economy, including a disappointing retail sales report and stronger-than-expected growth in manufacturing activity in the New York region.
The Dow Jones Industrial Average was trading off 57.71 points (0.47 percent) at 12,210.48 around 1530 GMT, while the tech-heavy Nasdaq dropped 16.42 points (0.58 percent) to 2,800.46.
The broad-market S&P 500 index shed 6.29 points (0.47 percent) at 1,326.03.
Investors digested a batch of economic data, including a Commerce Department report showing retail sales slowed in January, when severe snow storms gripped large parts of the country.
Sales rose 0.3 percent from December's 0.5 percent pace, but most analysts had forecast a 0.5 percent increase in a month that featured sharp post-holiday discounts.
A US Federal Reserve report showed manufacturing activity in the New York region accelerated in February to its highest level since June.
Import prices rose more than expected, by 1.5 percent, in January, lifted by surging oil prices. The Labor Department report showed that prices were 5.3 percent higher than in January 2010. It was the sharpest gain since May and raised inflation concerns.
"The disappointing data is overshadowing a larger-than-forecasted improvement in manufacturing activity in the New York region," Charles Schwab analysts said in a client note.
Among stocks in focus, package-delivery firm FedEx lowered its earnings outlook, citing disruptions from winter storms in the US and Europe and rising fuel prices. FedEx shares rose nearly two percent to $95.85.
Wall Street also weighed in on the finalized deal for Germany's Deutsche Boerse to buy the New York Stock Exchange, creating the world's biggest stock exchange.
NYSE shares tumbled 3.6 percent to $38.02 after the announcement by the two stock market operators before the market opened.
Hotel chain Marriott International rose 2.7 percent to $42.10 after announcing it would split its businesses into two publicly traded companies.
The losses on the markets followed a lackluster session Monday that left the Dow down a bit, 0.04 percent.
The bond market rose. The yield on the 10-year Treasury bond fell to 3.608 percent from 3.614 percent on Monday, while the 30-year bond's yield declined to 4.661 percent from 4.666 percent.
Bond prices and yields move in opposite directions.
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