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New York - US stocks mostly dipped early Friday following a profit warning from DuPont and amid expectations of profit taking after the S&P 500's nearly 6% second-quarter rise.
About 35 minutes into trade, the Dow Jones Industrial Average slipped 20.42 points (0.12%) to 16 825.71.
The broad-based S&P 500 edged down 1.56 (0.08%) to 1 955.66, while the tech-rich Nasdaq Composite Index added a mere 1.56 (0.04%) at 4 380.61.
"The major averages are signaling another round of profit taking," said Wells Fargo Advisors in a market note.
Dow component DuPont's shares tumbled 3.2% after the chemical and agricultural seed company said second-quarter earnings would be below last year's $1.28 per share and far under the $1.45 projected by analysts.
DuPont cited disappointing corn seed sales and seed inventory write-downs.
Analysts said recently light trade volumes on Wall Street could pick up as investors rebalance their portfolios ahead of the June 30 end of the second quarter.
Athletic apparel and shoe company Nike, a Dow component, rose 1.8% as earnings of 78 cents per share topped expectations by three cents. Higher sales offset the impact from a 36% rise in marketing expenses in part for the World Cup.
Discount retailer Dollar General fell 5.3% on news that chief executive Richard Dreiling plans to retire in May 2015 or upon the appointment of a successor. The company's board is conducting an internal and external search for a new CEO.
Manitowoc, which sells cranes and foodservice equipment, jumped 9.0% following news that activist investor Relational Investors had taken a stake in the company and is pushing for a spin-off of the foodservice business to create two companies.
Bond prices were mixed. The yield on the 10-year US Treasury dipped to 2.51% from 2.53 percent Thursday, while the 30-year held steady at 3.34%. Bond prices and yields move inversely.
