Investing.com - U.S. stocks finished Tuesday mixed due to disappointing quarterly earnings from Coca-Cola, though a soft New York state economic output gauge bolstered stocks by sending investors betting that the Federal Reserve will keep stimulus program in place for longer than anticipated.
Stimulus tools such as the Fed's USD65 billion in monthly bond purchases boost stocks by suppressing long-term borrowing costs to drive recovery.
At the close of U.S. trading, the Dow Jones Industrial Average fell 0.15%, the S&P 500 index rose 0.12%, while the Nasdaq Composite index rose 0.68%.
A drop in fourth-quarter profits at Coca-Cola due in part to falling U.S. soda sales sent the Dow Jones Industrial Average dipping on Tuesday.
Soft data supported stocks, however.
The Federal Reserve Bank of New York said that its general business conditions index came in at 4.48 for February, down from a 20-month high of 12.51 in January. Analysts had expected the index to decline to 9.00.
The new orders index fell to zero from a two-year high of 11 last month.
The numbers were the latest in a series of soft U.S. economic indicators that have prompted many investors to wonder whether the Federal Reserve will slow the pace of reductions to its asset-buying stimulus program, which has supported stocks since 2012.
Talk that harsh winter weather may be bruising economic indicators and not a slowdown in domestic demand bolstered equities as well as did reports tech icon Apple may buy Tesla Motors.
Leading Dow Jones Industrial Average performers included JPMorgan, up 0.58%, Goldman Sachs, up 0.56%, and Merck, up 0.49%.
The Dow Jones Industrial Average's worst performers included Coca-Cola, down 3.75%, Procter & Gamble, down 1.76%, and Verizon, down 1.17%.
European indices, meanwhile, finished larger higher.
After the close of European trade, the EURO STOXX 50 rose 0.04%, France's CAC 40 fell 0.10%, while Germany's DAX 30 rose 0.03%. Meanwhile, in the U.K. the FTSE 100 rose 0.90%.
On Wednesday, the U.S. is to publish reports on building permits, housing starts and producer price inflation.
Meanwhile, the Federal Reserve is to publish the minutes of its most recent policy setting meeting.