Updated 10:09 a.m. ET on Tuesday, June 27

Stocks turned mixed on Tuesday, June 27, though Nasdaq held lower after a hefty fine for Alphabet Inc. (GOOGL) - Get Alphabet Inc. Class A Report pressured the rest of the tech sector.

The S&P 500 was flat, the Dow Jones Industrial Average added 0.05%, and the Nasdaq fell 0.23%. The Nasdaq also declined on Monday, June 26. 

Alphabet fell 1% after its Google division was fined a record €2.42 billion ($2.7 billion) by the European Commission. The search engine was accused of abusing its dominance as a search engine by giving itself an advantage in comparison shopping services.

"What Google has done is illegal under EU antitrust rules," said Competition Commissioner Margrethe Vestager. "It denied other companies the chance to compete on the merits and to innovate. And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation."

Google now has 90 days to end its conduct or face payments of up to 5% of the average daily global revenue of its parent company, Alphabet, the commission said.

The fine is the largest in EU history, topping the €1.06 billion penalty levied on Intel Corp. in 2009.

Alphabet is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GOOGL? Learn more now.

The rest of the FAANG stocks were mixed on Tuesday. Facebook Inc. (FB) - Get Facebook, Inc. Class A Report , Apple Inc. (AAPL) - Get Apple Inc. (AAPL) Report  and Netflix Inc. (NFLX) - Get Netflix, Inc. (NFLX) Report  were each lower, while Amazon.com Inc. (AMZN) - Get Amazon.com, Inc. Report  rose slightly. The stocks comprising the acronym have already seen losses in recent weeks after the names pulled back from lofty heights. FAANG stocks had contributed a large portion of the S&P 500's gains in the year to date. The Technology Select Sector SPDR ETF (XLK) - Get Technology Select Sector SPDR Fund Report was down 0.5% on Tuesday. 

Apple and Facebook are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

In Fedspeak Tuesday, Philadelphia Fed President Patrick Harker will discuss the economic outlook at an event in London at 11:15 a.m. ET. Fed Chair Janet Yellen will also speak on the global economy in a conversation with President of the British Academy Lord Nicholas Stern at 1 p.m. San Francisco Fed President John C. Williams spoke at an economic forum in Sydney, Australia early morning. 

The S&P Corelogic Case-Shiller home price index for April rose at a slightly slower pace than expected. Home prices increased 5.5% in April, slowing from a 5.8% pace in March. Analysts had anticipated growth of 5.9%. The 20-city home prices index increased 5.7% in April, slowing from its fastest pace since July 2014 set a month earlier. Home prices rose 0.3% in April when on a month-by-month basis. 

Consumer confidence unexpectedly rose in June, according to the Conference Board. The measure ticked up 118.9 in June from 117.9 in May. Analysts expected the reading to moderate to 116, according to FactSet figures. 

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Crude oil prices were on the rise for the fourth session in a row as commodities markets came back from a major selloff last week that pushed West Texas Intermediate crude into bear market territory. Crude has been under pressure lately on worries over global oversupply and stubbornly high production. Crude reached its lowest level in 10 months on Wednesday, June 21.

West Texas Intermediate crude was up 2% to $44.28 a barrel on Tuesday morning.

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It's the final week of the second quarter and benchmark indexes are expected to post solid gains. Strong fundamentals and a positive earnings season have given markets a boost over the past three months even as volatility held at multi-year lows.

The Dow is on track to end more than 3% higher for the quarter, adding to the 4.5% growth seen in the first quarter. Likewise, the S&P 500 is on track to end with gains of roughly 3%, slowing from the 5.5% increase seen in the first three months of the year.

The latest iteration of the Republican plan to repeal and replace Obamacare would increase the number of people without health coverage by 22 million and cut the deficit by $321 billion through 2026, according to estimates released by the Congressional Budget Office released on Monday.

The nonpartisan budget and tax analysis agency's estimates forecast the effects of the Better Care Reconciliation Act, the healthcare bill crafted by Senate Republicans and released last week. Senate Majority Leader Mitch McConnell (R-KY) has said he wants to bring the bill to a vote before the July 4 recess, though he has met enough opposition from within his own party so that it is not clear the legislation would pass.

Darden Restaurants Inc. (DRI) - Get Darden Restaurants, Inc. Report rose 5.4% after topping earnings and sales estimates over its recent quarter. The parent of Olive Garden reported adjusted earnings of $1.18 a share, 3 cents higher than expected. Sales of $1.93 billion came in ahead of $1.87 billion consensus. Same-restaurant sales rose 3.3%, led by gains at Olive Garden and Longhorn Steakhouse.  

J.C. Penney Co. (JCP) - Get J. C. Penney Company, Inc. Report increased nearly 6% after Gordon Haskett Research Advisors upgraded its rating on the stock to hold from reduce. Analysts are optimistic the retailer can reach its fiscal 2017 same-store sales forecast for a decline of 1% to growth of 1%.   

Semiconductor firm Western Digital Corp. (WDC) - Get Western Digital Corporation Report  fell 0.4% even after the company said its profit for the fiscal fourth quarter would be higher. The revised guidance is based on a 1-point increase in its gross profit outlook driven by the sales of flash memory chips and enterprise-class hard drives. San Jose, Calif.-based Western Digital now expects revenue of $4.8 billion, gross profit margin equivalent to 41% of sales, and earnings per share of $2.85. The company's gross margin is a point higher, and the prior EPS forecast was $2.55 to $2.65.

Pandora Media Inc. (P) moved slightly lower after founder Tim Westergren confirmed that he would step down as chief executive. Chief Financial Officer Naveen Chopra will act as interim CEO until a permanent replacement has been found. Westergren will also step down from the board. Shares rose 2% on Monday, June 26, on reports Westergren would step down. 

Sprint Corp. (S) - Get SENTINELONE, INC. Report climbed 5% on Tuesday on reports the telecom is working with Charter Communications Inc. (CHTR) - Get Charter Communications, Inc. Class A Report and Comcast Corp. (CMCSA) - Get Comcast Corporation Class A Report to partner on wireless service. A potential deal could see Charter and Comcast offering wireless to their customers and taking a stake in Sprint. 

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