Stocks end flat as rally runs out of steam Wall Street is locked in a tug-of-war as investors are weighing economic data from FedEx, housing and the Federal Reserve, with Brian Peery, Hennessy Focus 30 Fund; David Pearl, Epoch Investment Partners; and CNBC's Steve Liesman and Rick Santelli. ET: Stocks closed Tuesday flat, as last week's central bank stimulus rally lost steam after bellwether FedEx cut its profit forecast. U.S. stocks have rallied nearly 6 percent since the start of August, propelling the S&P 500 index to levels not seen in nearly five years as central banks in Europe and the United States acted to buttress flagging economies. But analysts say that for the rally to continue, economic data must improve. "We've gotten to the point where price momentum was such the market averages were overextended at the end of last week," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon. Now we have this quiet period. FedEx Corp cut its profit forecast for its fiscal year 2013, saying that a weakening world economy had prompted customers to shift toward lower-priced shipping. Estimates for third-quarter profits have fallen sharply in recent months, and S&P 500 earnings for the quarter are expected to show a year-over-year decline, Thomson Reuters data showed. Apple Inc, which broke sales records with its new smartphone, set another all-time high just above $700 a share. Helping to weigh on the tech sector, Advanced Micro Devices Inc shares tumbled after company said its chief financial officer was leaving the struggling personal computer chipmaker. Helping to limit the day's decline, U.S. homebuilder sentiment rose for the fifth month in a row in September to its highest level in over six years, the National Association of Home Builders said. It was a fresh sign of momentum for the struggling housing market. Aside from more economic reports on housing this week, investors will get readings on manufacturing. The Philadelphia Federal Reserve's survey of activity in the mid-Atlantic region, as well as the Markit manufacturing purchasing manager's index for September, are due on Thursday. Data on Monday showed factory activity in New York state fell to its lowest level in nearly 3-1/2 years.