Wall St rebounds ahead of Fed meeting; Apple weighs on techs

U.S. stocks edged up on Tuesday after a three-session decline on the S&P 500, but an unexpected drop in durable goods orders in December and disappointing iPhone sales at tech giant Apple kept investors on edge ahead of a two-day Federal Reserve meeting. Apple Inc (AAPL) shares fell nearly 7 percent to $512.70 a day after iPhone sales in the holiday shopping season missed lofty expectations and the company forecast weak revenue for the current quarter. At least 12 brokerages lowered their price targets on Apple's shares, reflecting concerns that it was becoming harder to sell high-end phones as markets become saturated. "Investors have suffered a significant bruising over the past several trading sessions and the market is due for a bounce," said Andrew Wilkinson, chief market analyst at Interactive Brokers LLC in New York.

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