NEW YORK — Stocks ended slightly lower Tuesday as investors held back ahead of three critical events this week: policy meetings at both the Federal Reserve and the European Central Bank, and a closely watched report on jobs in the U.S.
The Dow Jones industrial average lost 64.33 points to close at 13,008.68. The Standard & Poor’s 500 edged down 5.98 points to 1,379.32, and the Nasdaq composite lost 6.32 points to 2,939.52.
The Federal Reserve, which started a two-day policy meeting Tuesday, had appeared to be moving toward announcing some kind of new step to energize the U.S. economy. But there were big questions over whether it will do so this week.
That’s because some economists believe the Fed isn’t convinced that the U.S. economic slowdown is pronounced enough yet to require more economic stimulus. Recent data have shown weakness in the economy has been offset by some pockets of strength.
Tuesday was no exception.
The Commerce Department reported that spending by the U.S. consumer was unchanged in June. But personal income edged up 0.5 percent.
“If incomes are rising, but people aren’t spending, it tells you that the consumer has some ammunition for more spending during the crucial back-to-school season,” said Quincy Krosby, market strategist with Prudential Financial.
There were other positive numbers. The Standard & Poor’s/Case-Shiller home price index released Tuesday showed that prices increase in all of the 20 cities it tracks. The Conference Board said Consumer Confidence Index increased to its highest reading since April, better than economists had forecast.
Investors were also closely watching for the outcome from the European Central Bank’s meeting on Thursday to discuss concrete steps to help countries with crippling debt.
It will be the first meeting after ECB President Mario Draghi said last Thursday that the central bank would do “whatever it takes” to preserve the euro, sending markets sharply higher.
Investors were also waiting for the monthly unemployment report on Friday.
Corporate earnings news did little to inspire investors. Aetna, the health insurance company, reported a 15 percent slump in net income as rising medical costs outweighed a gain in revenue. Its stock fell $1.08, or almost 3 percent, to $36.06.
