Stocks edge lower in early trading on Wall Street

NEW YORK, N.Y. – 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 per cent after cutting its outlook, and spirits maker Brown-Forman, whose brands include Jack Daniels, fell 4 per cent after cutting its forecast.

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

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

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