NEW YORK (CNN/Money) - U.S. stock markets were mixed early Tuesday, as concerns about interest rates and Iraq competed with strong earnings from a pair of investment banks.

After 10 minutes of trading, the Dow Jones industrial average (down 19.25 to 10,352.22, Charts) and the Standard & Poor's 500 (down 2.11 to 1,128.19, Charts) index both lost a few points, while the Nasdaq composite (up 0.17 to 1,974.55, Charts) traded near unchanged.

Next Wednesday, June 30, brings the conclusion of the Federal Reserve's policy-setting meeting. While the central bank is largely expected to lift the overnight bank lending rate by a quarter-percentage point, there is still some concern as to what the Fed will say in its statement and what it might mean if the Fed were to raise rates by more than a quarter-percentage point.

June 30 also marks the day of the expected transition of power in Iraq and there is some concern that this might bring a new wave of violence.

Ahead of these events, the market is likely to be jittery and little changed, analysts have speculated.

In the morning's corporate news, both Morgan Stanley (MWD: unchanged at $51.25, Research, Estimates) and Goldman Sachs (GS: unchanged at $88.79, Research, Estimates) reported fiscal second-quarter earnings that grew from a year earlier and surpassed analysts' expectations. However, the stocks showed little reaction.

Shares of PalmOne (PLMO: unchanged at $21.46, Research, Estimates) rallied after the maker of handheld computers reported fiscal fourth-quarter profit that topped estimates and reversed a loss a year earlier, partly due to strong sales of its combined mobile phone and digital organizer. The company also boosted its fiscal first-quarter and full-year earnings per share and revenue outlook.

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Treasury prices fell, pushing the 10-year note's yield up to 4.71 percent from 4.68 percent late Monday. The dollar crept higher versus the euro and lower versus the yen.

Among commodities markets, Brent crude oil futures stood unchanged at $35.13 a barrel. COMEX gold gained 10 cents to $394.60 an ounce.

In global trade, Asian markets closed mostly lower and European markets fell at midday there.