NEW YORK (TheStreet) -- Stocks were mixed by mid-morning Tuesday after data showed U.S. manufacturing growth at its slowest in nearly two years.
The S&P 500 was flat, the Dow Jones Industrial Average climbed 0.13%, and the Nasdaq was down 0.17%.
U.S. manufacturing growth slowed again in June for the third straight month, falling to its slowest pace since October 2013, according to the Markit PMI Manufacturing Index. The survey fell to 53.4 in June, down from a May reading of 54. Economists had expected the measure to increase to 54.2.
New home sales in May increased 2.2% to an annual rate of 546,000, its fastest pace since February 2008. The reading was a touch higher than estimates of a 545,000 annual rate. The median home price was down 1% from a year ago to $282,800.
Durable goods orders in May fell 1.8%, weighed on by a 35.3% month-on-month slide in the volatile commercial aircraft component. April's reading was revised down to a 1.5% decline from a previous 1% drop. Excluding transportation, the measure climbed 0.5%, above estimates of a 0.3% slip.
"The downward revisions to April's estimates suggest that there was a much weaker start to investment activity this quarter and despite the small rebound in May's investment activity the contribution to GDP this quarter from investment activity will remain quite modest at best," said Millan Mulraine, deputy head of U.S. strategy at TD Securities.
Eurozone finance ministers reacted positively to new proposed reforms submitted by the Greek government in a meeting on Monday. Among the reforms reported, though not confirmed, Greece will eliminate early retirement benefits, cut defense spending and increase corporate tax rates. Eurozone leaders will meet again at the end of the week. Talks have escalated as Greece faces a crucial repayment to the International Monetary Fund by the end of the month.