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US stocks edge lower

New York - US stocks opened slightly lower Friday following a profit warning from Dow component DuPont and amid expectations of profit-taking after the S&P 500's nearly 6 percent second quarter rise.

Five minutes into trade, the Dow Jones Industrial Average dipped 10.98 (0.07 percent) to 16,835.15.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

The broad-based S&P 500 shed 2.27 (0.12 percent) to 1,954.95, while the tech-rich Nasdaq Composite Index lost 1.49 (0.03 percent) to 4,377.56.

“The major averages are signaling another round of profit taking,” said a note form Wells Fargo Advisors.

DuPont shares fell 2.5 percent after the chemical and agricultural seed company said second-quarter earnings would be below last year's $1.28 per share and far below the $1.45 projected by analysts.

DuPont cited disappointing corn seed sales and seed inventory write downs.

Analysts said recently light sales volumes could pick up as investors rebalance their portfolios ahead of the June 30 end of the quarter. - Sapa-AFP

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