NEW YORK (CNNMoney)
Despite a report that home prices posted their biggest jump in 6 years, the Dow Jones Industrial Average was stuck in neutral, while the S&P 500 and the Nasdaq dropped between 0.1% and 0.2%.
After their recent four-week winning streak, investors say stocks, which are hovering around 5-year highs, may be due for a pullback.
"Good numbers are priced in at this point, particularly in housing," said Joe Saluzzi, co-head of Themis Trading. "Investors really want to see more."
While the Case-Shiller 20-city home price index beat expectations, investors are also waiting for data from the Conference Board's monthly Consumer Confidence Index due out at 10 a.m. ET.
Ford (F, Fortune 500) was a major drag on the broader market. The car company posted higher fourth-quarter income and sales, boosted by strong results in North America. But worse-than-expected weakness from Europe weighed on Ford's shares, which slid more than 3%.
Drug companies fared better. Shares of Pfizer (PFE, Fortune 500) inched higher on better-than-expected quarterly results, as did rival Eli Lilly and Co (LLY, Fortune 500), which also reported fourth-quarter earnings and sales that topped expectations.
Related: Apple dragging down hedge funds
Glass maker Corning' (GLW, Fortune 500)s stock jumped after the company delivered earnings and sales ahead of forecasts.
Shares of data storage equipment maker EMC (EMC, Fortune 500) plunged after the company's earnings outlook fell short of estimates.
Shares of Apple (AAPL, Fortune 500) gained more than 1%, after the company announced a new iPad with more storage.
Yahoo (YHOO, Fortune 500) shares rose after the company posted earnings that beat expectations late Tuesday.
Amazon.com (AMZN, Fortune 500) results are due after the closing bell.
Tuesday also marks the start of the Federal Reserve's first monetary policy meeting of the year. At the conclusion of the two-day meeting Wednesday afternoon, investors will look for clues from the central bank's statement for when the bond buying program could end.
Related: Fear & Greed Index hitting extreme greed
U.S. stocks finished mostly flat Monday.
European markets were mixed in afternoon trading. Asian markets ended mixed, as Hong Kong's Hang Seng edged lower while the Shanghai Composite and Japan's Nikkei both posted gains of about 0.3%.
The dollar declined versus the euro and the British pound, but gained ground against the Japanese yen.
Oil prices and gold prices slipped.
The price of the 10-year Treasury slipped, pushing the yield up to 1.97%. 
First Published: January 29, 2013: 9:51 AM ET
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