U.S. stocks fell in early morning trade on Wednesday as a wave of profit warnings drained some of the optimism that has driven a rally over the past three months .
Blue chips edged lower by midday on Wednesday as a wave of profit warnings drained some of the optimism that has driven a rally over the past three months .
The Nasdaq composite index, a selection of more than 2500 stock,  rose to 1,861.52 marking a gain of 15.82 points or 0.9%