* Fed Chair Janet Yellen to speak at 4:00 p.m. ET
* Apple drops on Barclays price target cut
* Indexes down: Dow 0.22 pct, S&P 0.22 pct, Nasdaq 0.43 pct
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
Sept 29 Wall Street was lower in choppy trading
late Thursday morning, pulled lower by Apple and healthcare
The S&P healthcare index fell 0.7 percent, marking
the second straight day of decline as shares of Merck
and Johnson & Johnson booked losses.
Apple fell 1.23 percent after Barclays cut its
price target. The stock was the biggest drag on Wall Street.
Investors are awaiting Federal Reserve Chair Janet Yellen's
speech in Washington for clues on the timing of the next
interest rate hike.
"The markets are taking a step back after a couple of pretty
good days," said Paul Nolte, portfolio manager at Kingsview
Asset Management in Chicago.
"It is the end of the quarter so there are people messing
around with some positions."
The three indexes have registered gains in the past two
At 11:01 a.m. ET (1501 GMT), the Dow Jones Industrial
Average was down 40.85 points, or 0.22 percent, at
The S&P 500 was down 4.78 points, or 0.22 percent, at
The Nasdaq Composite was down 22.79 points, or 0.43
percent, at 5,295.75.
Five of the 11 major S&P indexes were lower, with utilities
falling the most by 1.1 percent. The sector, which is
sensitive to interest rates, is on track to mark its fifth day
of losses in a row.
Kansas City Fed President and voting member Esther George
told CNBC that it was time to move ahead with a rate hike, a
stand that Atlanta Fed president Dennis Lockhart echoed.
Oil prices were up 0.4 percent, after Wednesday's 6 percent
rally, as investors questioned whether an OPEC agreement to curb
production would be enough to rebalance a heavily over-supplied
ConAgra was the top percentage gainer on the S&P,
rising 7.3 percent after the company's profit beat analysts'
Intra-Cellular plunged 63.2 percent after the
company said its schizophrenia drug did not show any clinically
significant difference when compared with placebo.
Ebay rose 3 percent after Deutsche Bank upgraded
the e-commerce platform's rating to "buy" and raised its price
Declining issues outnumbered advancing ones on the NYSE by
1,667 to 1,156. On the Nasdaq, 1,625 issues fell and 995
The S&P 500 index showed 19 new 52-week highs and one new
lows, while the Nasdaq recorded 52 new highs and 20 new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by