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NEW YORK (CNNMoney) -- U.S. stocks opened lower Wednesday but quickly turned mixed, as investors took in new housing market data and another batch of corporate earnings.
The Dow Jones Industrial Average bounced along the breakeven line, while the Nasdaq and the S&P 500 were up between 0,2% and 0.4%.
Housing starts, which tally the number of new homes under construction, climbed 15% to an annual rate of 872,000 in September, according to the Census Bureau. That's the highest level in more than four years and much higher than what economists had expected. Building permits for future construction also rose to the highest level in more than four years.
On the earnings front, Bank of America (BAC, Fortune 500) reported third-quarter earnings that topped expectations, citing improved lending and deposits. Shares of the bank rose slightly in early trading.
PepsiCo (PEP, Fortune 500) logged earnings that topped forecasts, but revenue slipped more than 5% from a year ago. Earnings from Abbott Laboratories (ABT, Fortune 500) also beat expectations.
After the market close Tuesday, chip maker Intel (INTC, Fortune 500) reported earnings that beat Wall Street's expectations, but fell from a year earlier. Investors were also disappointed by the company's outlook. Shares of the company are down 2% on the news.
IBM (IBM, Fortune 500) posted earnings that topped forecasts by a penny a share, but revenue fell short of expectations, sending shares nearly 4% lower.
Results from American Express (AXP, Fortune 500)are due after the close.
U.S. stocks ended higher Tuesday, as investors welcomed strong corporate earnings and digested the latest inflation data.
Fear & Greed Index
World Markets: European stocks were higher in afternoon trading. Britain's FTSE 100 gained 0.5%, the DAX in Germany rose 0.1% and France's CAC 40 added 0.1%. Meanwhile, Spanish bonds climbed after Moody's Investors Service affirmed Spain's investment grade credit rating.
Asian markets closed higher. The Shanghai Composite gained 0.3%, the Hang Seng in Hong Kong climbed 1%, and Japan's Nikkei jumped 1.2%.
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Currencies and commodities: The dollar slipped against the euro, the British pound and the Japanese yen.
Oil for November delivery rose 77 cents to $92.77 a barrel.
Gold futures for December delivery gained $2.7 to $1,748.90 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.77% from 1.72% late Tuesday. 
First Published: October 17, 2012: 9:56 AM ET
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