Wall St. dips, earnings on deck from Apple and Twitter

It was the second day of declines after a recent rally to consecutive record highs on the S&P 500 that has stretched price-to-earnings multiples to levels that some investors say presumes that companies will beat second-quarter estimates. Six of the 10 major S&P sectors declined, led by a 1.5 percent drop in the telecom services index . Verizon Communications shares fell 2 percent after the company's subscriber numbers fell below estimates.