US stocks were mixed in early trade on Tuesday with S&P 500 Index declined 0.12 points, or 0.01 percent, to trade at 1,257.51 at 9:50 a.m. EDT. The Dow Jones Industrial Average declined 8.52 points, or 0.07 percent, to trade at 11,546.51. The Nasdaq Composite Index gained 0.30 percent.

Retail sales in the US this holiday season rose sharply driven by increased spending on clothing and jewelry. Excluding autos, retail sales jumped 5.5 percent to $584 billion from November 5 through December 24 year-on-year, posting the best performance in five years.

The S&P Case/Shiller Home Price Index declined more than expected in October. The index fell 0.8 percent in October compared to 0.6 percent gain in September and below economists' consensus forecast of 0.1 percent drop.

On the corporate front, MannKind Corp. surged 8.18 percent after the US FDA said it will need four more weeks to review the application for the inhaled insulin Afrezza.

Shares of American International Group advanced 1.77 percent as it secured more than $4-billion in credit lines from banks.

US stocks finished narrowly mixed on Monday in very light trading as a monstrous snow storm on the East Coast likely kept many traders home and a rate hike over the weekend by China dampened some investor sentiment.

The euro advanced 0.06 percent to 1.3172 against the dollar and the yen gained 1.01 percent against the greenback.

Crude oil futures advanced 0.36 percent to $91.33/barrel and gold futures advanced 1.48 percent.

European stock markets are currently trading higher with DAX30 up by 8.23 points and CAC 40 up by 9.62 points.