US STOCKS-Wall St fall as earnings disappoint
* Apple hits record high before reversing course
* Merck on track for its best day since January 2014
* Coach slumps as sales fall short of expectations
* Indexes down: Dow 0.2 pct, S&P 0.3 pct, Nasdaq 0.8 pct (Updates to open)
By Tanya Agrawal
April 28 (Reuters) - U.S. stocks fell in volatile early trading on Tuesday as strong results from Merck and better-than-expected housing data helped offset disappointing earnings and profit-taking in Apple.
Investors were also awaiting the results of a two-day Federal Reserve meeting that ends on Wednesday for clues on when the central bank will hike interest rates.
Apple hit a record high before falling as much as 1.7 percent to $130.33 despite beating Wall Street's revenue and profit forecasts. Up to Monday's close, Apple's stock had risen about 62 percent in the past 12 months.
Merck rose 4.8 percent to $59.85, on track for its best day since January 2014, after its diabetes drug, Januvia, achieved the main goal in a safety study. The company also reported better-than-expected quarterly sales and earnings. Continuación...