Stocks are lower

US stocks opened lower on Tuesday morning after crossing record highs in the previous session.

Near 9:36 a.m. ET, the Dow was down 124 points, the S&P 500 was down two points, and the Nasdaq was down five points.

Stocks closed near record highs on Monday. The S&P 500 crossed its previous closing high reached two months ago in trading, but ended about two points shy of 2,130.82, the record.

It's quiet on the economic data front, but a blockbuster day for earnings.

Apple reports second quarter results after the close, and analysts are most interested in iPhone sales numbers and, for the first time during earnings, Apple Watch.

Chipotle and GoPro also report earnings after the close.

Earlier this morning, Verizon reported a 2.4% rise in quarterly revenue, with 1.1 million new subscribers. Revenue rose to $32.22 billion from $31.48 billion, and net income came in at $1.04, compared to $1.02 a year earlier.

United Technologies slashed its outlook for the full year due to the strong dollar and "a slowing China."