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Stocks turned lower on Tuesday, with the Dow falling more than 100 points, as investors took a cautious view of a mixed bag of earnings from companies including Delta Air Lines and Verizon Communications.

The Dow Jones Industrial Average was 124 points lower in midday trading.

After coming within points of the record high of 1,850.84 it hit last week, the S&P 500 scaled back its gains, declining 3 points. And the Nasdaq, which hit a more-than 13-year high last week, also trimmed its advance, but was still slightly positive.

Corporate results so far have been mixed. "We still want to see it driven by revenue numbers increasing, but we are still seeing cost cutting" and other management moves keeping earnings in line, said Kerrigan.