* DuPont drops as outlook cut
* Russell reconstitution may drive up volume at close
* Consumer sentiment rises in June - U Mich
* Indexes: Dow off 0.2 pct, S&P down 0.1 pct, Nasdaq up 0.2 pct (Updates to afternoon trading, changes byline)
By Caroline Valetkevitch
NEW YORK, June 27 (Reuters) - The Dow and S&P 500 edged lower on Friday following a downbeat second-quarter forecast from DuPont, though consumer sentiment data helped support the market.
DuPont shares lost 4 percent to $65 and were among the biggest negative influences for the Dow and S&P 500, a day after it cut its operating profit forecast for the quarter and full year, mainly due to a worse-than-expected performance at its agriculture and performance chemicals units.
It was among the latest companies to warn on the quarter, with the ratio of negative to positive outlooks at 4.2 to 1, higher than the long-term average of 2.6 to 1, Thomson Reuters data showed.
"I think what we're in the midst of is a mini correction in which prices have finally achieved a certain valuation level that has become increasingly uncomfortable for market participants in the absence of further decisive evidence that the economy is on the right track," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.
Among the day's positives, U.S. consumer sentiment rose more than expected, according to the Thomson Reuters/University of Michigan's final June reading, though that follows weak reads on consumer spending and first-quarter economic activity earlier this week.
Trading volume, which has been below average in recent weeks, could see heavy action going into the close as Russell Investments announces the final reconstitution of its indexes, affecting more than $5 trillion in assets.
The Dow Jones industrial average fell 42.93 points or 0.25 percent, to 16,803.2, the S&P 500 lost 1.75 points or 0.09 percent, to 1,955.47 and the Nasdaq Composite added 8.08 points or 0.18 percent, to 4,387.13.
The Dow and S&P 500 were on track for declines for the week, though Wall Street's 2014 rally was expected to continue into the second half of the year.
A Reuters poll on Thursday showed the S&P 500 is expected to hit 2,000 before the end of 2014.
Among gainers, Nike Inc rose 1.3 percent to $77.84 a day after its fourth-quarter earnings beat expectations. (Additional reporting by Ryan Vlastelica; Editing by Bernadette Baum and Nick Zieminski)