HomeFinancial MarketsStock Futures Decline Ahead of Debt Ceiling Talks

Stock Futures Decline Ahead of Debt Ceiling Talks

U.S. stock futures edged lower on Tuesday morning as investors await the latest round of negotiations over the U.S. debt ceiling to get underway later in the day.

Futures listed on the S&P 500 declined by 0.12%, while those on the Dow Jones Industrial Average edged 0.33% lower. Contracts on the Nasdaq Composite remained flat.

A meeting between U.S. President Joe Biden and House Speaker Kevin McCarthy is scheduled to take place later in the day, with the pair expected to discuss the prospect of either raising or suspending the U.S. government’s debt limit.

Treasury Secretary Janet Yellen warned of the dangers of not reaching a consensus before the June 1 deadline, cautioning that a failure to do so “would cause severe hardship to American families”.

Investors have also kept a close eye on earnings data from the retail sector, set for release on Tuesday morning. Economists surveyed by Bloomberg are expecting retail sales to grow by 0.8% in April, thereby partially erasing a 1% drop last month.

Cathie Wood’s ARK Invest Sets Lofty Expectations for Tesla Stock, Expects it to Reach $2,600 By 2029

Investment management firm ARK Invest and their CEO Cathie Wood continue to be high on the shares of electric vehicle maker Tesla. In a...

NextEra Energy Stock Sliding After Power Company Announces Sale of $2 Billion of Equity Units

The shares of power company NextEra Energy have been sliding this week after the company announced plans to sell $2 billion of equity units....

Wells Fargo is Having Second Thoughts About Rent Credit Card Partnership With Bilt

Back in 2022, banking giant Wells Fargo teamed up with fintech startup Bilt Technologies to launch a new credit card that allowed users to...