Stocks Pull Back From Record Highs; Market Waits for Alcoa to Kick Off Earnings

Stocks are pulling back from record highs as earnings and interest rates weigh on investor's minds. Speculation the Fed may raise interest rates sooner than expected has all the major U.S. markets trading lower midday. Second-quarter earnings season unofficially kicks off Tuesday after the close when Alcoa (AA) is scheduled to report. The stock has been performing well this year, up more than 4% year to date. Investors will want to hear about Alcoa's global outlook in aerospace given its acquisition of Firth Rixon last month. Apple shares are making a move higher today after reporting good June sales. The company is expected to unveil new products including the iPhone 6 and iWatch this fall. TheStreet's Susannah Lee reports from Wall Street.