During early U.S. trade, the Dow Jones Industrial Average fell 0.23%, the S&P 500 index dipped 0.01%, while the Nasdaq Composite index added 0.11%.
Investors were awaiting more information from the Fed, after the minutes of its August meeting indicated that many policymakers may be leaning towards additional easing measures.
Meanwhile, investors also remained hopeful that the European Central Bank will implement policy measures to help stabilize the euro zone's sovereign debt markets at its next policy meeting in early September.
Apple shares climbed 2.35%, boosted by the tech giant’s victory in a patent lawsuit against rival Samsung.
Last week, a U.S. court ruled the world’s biggest handset maker infringed six of seven patents. A ban may undermine Samsung’s grip on the smartphone market and set a precedent for rival handset makers that use Google’s Android operating system.
In pharmaceutical stocks, Eli Lilly saw shares rise 0.30%, even as its heart drug Effient failed to beat the older product Plavix in a head-to-head clinical study, dealing a blow to hopes for its expanded use in treating less critically sick heart patients who are managed solely with medicines.
Merck & Co dropped 0.39% on the other hand, after saying on Sunday that it plans to file regulatory applications for a new type of blood clot preventer next year, and will also file with regulators for approval of another cardiovascular drug in 2013.
In M&A news, employment-solutions company Kenexa skyrocketed 41.19% amid reports it will be bought by IBM for USD1.3 billion.
M&T Bank also added to gains, with shares surging 4.65% after announcing its intention to acquire Hudson City Bancorp for about USD3.7 billion.
Elsewhere in the financial sector, stocks were mixed. Shares in Bank of America tumbled 1.10% and JP Morgan fell 0.16%, while Goldman Sachs and Citigroup added 0.10% and 0.20% respectively.
Meanwhile, Best Buy rallied 5.60% after the consumer-electronics retailer said it has reached an agreement with founder Richard Schulze, allowing him to conduct due diligence and form an investment group with private equity sponsors.
Among earnings, Tiffany & Co saw shares soar 6.10%, even as the jeweler slashed its fiscal-year earnings and revenue guidance for the second quarter.
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