Apple, Merck Beat Quarterly Estimates; Ford Drops on Miss

Stocks were trading close to the flatline on Tuesday. Nerves got the better of Wall Street as the Federal Reserve convened for a two-day meeting. The central bank isn't expected to diverge from current monetary policy, though its statement out Wednesday will be combed through for hints as to when an interest rate hike could occur. Apple (AAPL) was dominating business headlines after posting a 27% increase in quarterly sales. Ford (F) missed profit estimates in its quarter after shifting fewer models and as a stronger U.S. dollar cut into total sales. Merck (MRK) shook off the impact of a stronger dollar in its recent quarter, beating earnings and sales estimates.