Early trade in New York: Wall Street lower

Wall Street fell on Tuesday as Apple's shares remained under pressure, hitting their lowest in more than six months, and investors digested earnings reports from a host of companies. The iPhone maker's shares fell as much as 4.4 percent to $113.25, slipping firmly below their 200-day daily moving average, a key technical level closely watched by traders. The stock was also the biggest drag on the three major US indexes.
The Fed, which has kept interest rates near zero for nearly a decade, has said it will raise rates only when it sees a sustained recovery in the economy. At 12:44 pm ET (1644 GMT) the Dow Jones industrial average was down 36.72 points, or 0.21 percent, at 17,561.48, the S&P 500 was down 3.36 points, or 0.16 percent, at 2,094.68 and the Nasdaq Composite was down 11.44 points, or 0.22 percent, at 5,103.94. Six of the 10 major S&P sectors were higher, with the materials index's 0.76 percent rise leading the advancers. The energy index reversed course to trade down. Among other companies scheduled to release results on Tuesday are Dow component Walt Disney, Devon Energy and Genworth Financial.