Stocks edge lower in early trading on Wall Street

AP News
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Posted: Mar 02, 2016 9:43 AM
Stocks edge lower in early trading on Wall Street

NEW YORK (AP) — U.S. stocks are opening slightly lower as the market gives back some of a big gain from the day before.

Several companies were slipping in early trading Wednesday after delivering disappointing forecasts.

Agribusiness giant Monsanto dropped 5 percent after cutting its outlook, and spirits maker Brown-Forman, whose brands include Jack Daniels, fell 4 percent after cutting its forecast.

The Dow Jones industrial average slipped 49 points, or 0.3 percent, to 16,816.

The Standard & Poor's 500 index fell five points, or 0.3 percent, to 1,973. The Nasdaq composite edged down six points, or 0.1 percent, to 4,682.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.87 percent.