NEW YORK - Wall Street turned mixed Tuesday as investors sifted through a mix of economic data: a government report that showed the first gain in new home sales in six months and a disappointing reading on consumer confidence.

Stocks initially rose after the Commerce Department said sales of new homes rose 3.3 percent in April to a seasonally adjusted rate of 526,000 units. In March, sales had fallen 11 percent to their weakest pace since 1991. This pleasant surprise helped assuage investors after the Conference Board said its Consumer Confidence Index dropped for the fifth straight month. The index is now at its lowest level since October 1992.

But an uneasy market was unable to hold on to its gains. Investors are concerned about the effect of soaring energy and food prices on consumers, who account for more than two-thirds of U.S. economic activity. With gas prices up sharply from a year ago, many on Wall Street are worried that nervous consumers will stop reaching into their wallets for discretionary purchases.

“You have a problematic scenario: falling home prices, rising food and energy prices, the credit crunch, and the labor market isn’t doing that well,” said Stephen Carl, principal and head of equity trading at The Williams Capital Group. “We’re going through this period right now, and it’s going to take some time to come out of it.”

Furthermore, investors were looking at the pullback in oil prices skeptically, unwilling to bet that their retreat back to $130 a barrel marked a turnaround. Light, sweet crude fell $2.02 to $130.17 per barrel on the New York Mercantile Exchange.

In midday trading, the Dow Jones industrial average fell 1.38, or 0.01 percent, to 12,478.25. The blue chip index had been up by about 60 points at its highs of the session.

Broader stock indicators were slightly higher. The Standard & Poor’s 500 index rose 1.26, or 0.09 percent, to 1,377.19; the Nasdaq composite index rose 11.45, or 0.47 percent, to 2,456.12.

The mixed start to the week came after the Dow lost 3.91 percent last week — its worst showing since February — while the other indexes showed similar declines. Investors sold off stocks amid concerns about rising energy prices and after a sizable run-up since the market’s lows in mid-March.

Bond prices fell Tuesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.90 percent from 3.85 percent late Friday.

Todd Salamone, director of trading at Schaeffer’s Investment Research in Cincinnati, offered technical selling as one reason why stocks pulled back just before midday. He said many investors remain hesitant after last week, especially ahead of economic data expected in the coming days.

“This could be some technical selling as we rallied up to previous support levels after last week’s big drop, and that could have brought some already jittery sellers to the market,” he said. “People are looking for that bounce as an opportunity to sell.”

Economic reports on tap include Wednesday’s government data on durable goods that will provide more insight into consumer spending on big-ticket items. On Friday, the University of Michigan will release its report on consumer sentiment, government data on personal spending, and the Chicago Purchasing Managers Index.

Earlier in Tuesday’s session, the Standard & Poor’s/Case-Shiller home price index indicated that prices fell 14.1 percent during the quarter.

However, the drop was expected by most investors — and the government’s report on new home sales was considered more important because it is the most recent gauge on the industry.

In corporate news, Vodafone Group PLC posted a full-year profit and said its chief executive plans to resign. The world’s biggest mobile phone company by sales said Arun Sarin will be replaced by his deputy, Vittorio Colao. Shares of Vodafone fell 69 cents to $31.86.

Blackstone Group LP and Apollo Management LP are holding discussions about acquiring specialty chemicals maker Chemtura Corp., according to a report by The Wall Street Journal, which cited a person familiar with the situation. Blackstone shares rose 36 cents at $18.90, while Chemtura shares rose 60 cents, or 7.6 percent, to $8.40.

Flotek Industries Inc. fell $2.67, or 13.9 percent, to $16.50 after the provider of oilfield services reduced its full-year profit forecast because of increased costs and delays in the delivery of parts.

The Russell 200 index of smaller companies rose 3.66, or 0.51 percent, to 727.76.

Advancing issues led decliners by 3 to 2 basis on the New York Stock Exchange, where volume came to 368.3 million shares.

Overseas, Japan’s Nikkei stock average rose 1.48 percent. In morning trading, Britain’s FTSE 100 fell 0.47 percent, Germany’s DAX index rose 0.07 percent, and France’s CAC-40 fell 0.63 percent.

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