Wall Street lower as investors assess earnings, data

Shares of Gilead Sciences fell 8.4 percent to $88.86 after a drop in quarterly profit, making it the biggest drag on the S&P and the Nasdaq. Apple was down 1.5 percent at $93.38 a day after billionaire investor Carl Icahn told CNBC he no longer has a position in the company. Adding to the day's selling pressure, inflation data clouded the path of future rate hikes by the Federal Reserve.