Investing.com - U.S. stock futures pointed to a lower open on Monday, as sustained concerns over the U.S. political deadlock and the risk of a sovereign default dented investor confidence.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.63% decline, S&P 500 futures signaled a 0.67% drop, while the Nasdaq 100 futures indicated a 0.45% loss.
Negotiations between U.S. President Barack Obama and House Republicans broke down over the weekend, fuelling concerns that a deal to raise the government borrowing limit would not be struck ahead of Thursday’s deadline to avert an unprecedented U.S. sovereign debt default.
Central bankers and finance ministers in Washington for the annual meeting of the International Monetary Fund and World Bank over the weekend called for “urgent action” to break the deadlock.
The chief of the International Monetary Fund, Christine Lagarde, said the U.S. situation was "very, very concerning" and that "creative accounting" is not a solution.
Auto stocks were expected to be active, as General Motors declined 0.99% in pre-market trade following a report that PSA Peugeot Citroen plans to sell EUR3 billion. General Motors owns a 7% stake in Peugeot.
Media companies were also likely to be in focus, after Walt Disney, 21st Century Fox, NBCUniversal, CBS Corp., Univision Communications, WNET, and WPIX asked the U.S. Supreme Court to rule Aereo Inc., which provides broadcast signals to online viewers, is an illegal operation.
In the financial sector, JPMorgan Chase was down 0.74% in early trading, after the U.S. lender reported on Friday its first loss under Chief Executive Officer Jamie Dimon after taking a USD7.2 billion charge to cover the cost of mounting litigation and regulatory probes.
Other stocks likely to remain in focus included JB Hunt Brown & Brown and Wintrust Financial, due to report third quarter earnings later in the day.
Across the Atlantic, European stock markets were mixed to lower. The EURO STOXX 50 dipped 0.01%, France’s CAC 40 slipped 0.12%, Germany's DAX fell 0.16%, while Britain's FTSE 100 edged up 0.09%.
During the Asian trading session, Japan’s Nikkei 225 Index and Hong Kong's Hang Seng Index remained closed for a public holiday.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.63% decline, S&P 500 futures signaled a 0.67% drop, while the Nasdaq 100 futures indicated a 0.45% loss.
Negotiations between U.S. President Barack Obama and House Republicans broke down over the weekend, fuelling concerns that a deal to raise the government borrowing limit would not be struck ahead of Thursday’s deadline to avert an unprecedented U.S. sovereign debt default.
Central bankers and finance ministers in Washington for the annual meeting of the International Monetary Fund and World Bank over the weekend called for “urgent action” to break the deadlock.
The chief of the International Monetary Fund, Christine Lagarde, said the U.S. situation was "very, very concerning" and that "creative accounting" is not a solution.
Auto stocks were expected to be active, as General Motors declined 0.99% in pre-market trade following a report that PSA Peugeot Citroen plans to sell EUR3 billion. General Motors owns a 7% stake in Peugeot.
Media companies were also likely to be in focus, after Walt Disney, 21st Century Fox, NBCUniversal, CBS Corp., Univision Communications, WNET, and WPIX asked the U.S. Supreme Court to rule Aereo Inc., which provides broadcast signals to online viewers, is an illegal operation.
In the financial sector, JPMorgan Chase was down 0.74% in early trading, after the U.S. lender reported on Friday its first loss under Chief Executive Officer Jamie Dimon after taking a USD7.2 billion charge to cover the cost of mounting litigation and regulatory probes.
Other stocks likely to remain in focus included JB Hunt Brown & Brown and Wintrust Financial, due to report third quarter earnings later in the day.
Across the Atlantic, European stock markets were mixed to lower. The EURO STOXX 50 dipped 0.01%, France’s CAC 40 slipped 0.12%, Germany's DAX fell 0.16%, while Britain's FTSE 100 edged up 0.09%.
During the Asian trading session, Japan’s Nikkei 225 Index and Hong Kong's Hang Seng Index remained closed for a public holiday.