US equity indexes were mixed in midday trading Tuesday as a regional manufacturing gauge improved more than forecast, while a housing index declined steeper than anticipated.

The Nasdaq Composite slipped less than 0.1% to 20,011.2, with the S&P 500 was little changed at 6,117.8 and the Dow Jones Industrial Average 0.2% lower at 44,463.5. Communication and consumer services led the decliners intraday, while energy was the biggest gainer.

In economic news, the New York Federal Reserve's Empire State manufacturing index rebounded to 5.7 in February from minus 12.6 in January, compared with minus 2 in a survey compiled by Bloomberg. The Empire State index is the first manufacturing sector reading for February and suggests a return to expansion.

However, the National Association of Home Builders' monthly housing market index fell to 42 in February from 47 in January, compared with expectations for 46 in a survey compiled by Bloomberg. The index, below 48 a year earlier, came in at the lowest since September.

Most US Treasury yields rose, with the 10-year up 4.1 basis points to 4.52% and the two-year 2.1 basis points higher at 4.28%.

In company news, Taiwan Semiconductor Manufacturing (TSM) and Broadcom (AVGO) are considering pitching deals to acquire separate pieces of Intel (INTC), The Wall Street Journal reported, citing people familiar with the matter. Intel shares rose 10% intraday, among the top gainers on the S&P 500 and the Nasdaq.

Medtronic (MDT) shares declined 7.3% after the company reported fiscal Q3 revenue below analysts' expectations.

Nike (NKE) said Tuesday it is partnering with Kim Kardashian-backed clothing brand Skims to form a new brand, NikeSKIMS. The new brand will focus on women's apparel, footwear, and accessories for the global fitness and activewear industry. Shares of the sportswear retailer jumped 4.3% intraday, the top gainer on the Dow.

West Texas Intermediate crude oil futures advanced 0.7% to $71.26 a barrel.