Investing.com - U.S. stocks opened lower on Tuesday, as sustained concerns over the handling of the U.S. budget crisis and fears of a potential sovereign default continued to weigh on market sentiment.
During early U.S. trade, the Dow Jones Industrial Average slid 0.29%, the S&P 500 index fell 0.23%, while the Nasdaq Composite index edged down 0.24%.
President Barack Obama repeated Monday that he is willing to negotiate with congressional Republicans on a range of topics, including healthcare and energy policy, but only after the government is reopened.
Mr. Obama also called on Congress to raise the government borrowing limit ahead of the October 17 deadline, the date which the Treasury Department has estimated the U.S. could risk a default.
Republican House Speaker John Boehner on Sunday said the House will not support bills to fully reopen the government or increase the U.S. debt ceiling unless the Obama administration agrees to talks aimed at reducing the deficit.
Alcoa dropped 0.38%, as the aluminum producer was set to kick off earnings season after the close on Tuesday. On Monday, Morgan Stanley cut its rating on the company to "equal weight" from "overweight".
Also on the downside, Amazon saw shares shares edge down 0.15%, even after defeating International Business Machines' effort to reopen bidding for a CIA cloud-computing contract.
The U.S. Court of Federal Claims granted Amazon’s request for judgment on the administrative record following a hearing on Monday. IBM shares were down 0.31% following the news.
In the telecom sector, AT&T fell 0.12% amid reports the company is in talks with America Movil to enter the European telecommunications market together.
On the upside, Talisman Energy surged 2.35% after billionaire investor Carl Icahn Tweeted that he had purchased about 61 million shares of the oil producer and may seek a seat on the company's board.
Other stocks likely to remain in focus included Yum Brands, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slipped 0.29%, France’s CAC 40 retreated 0.46%, Germany's DAX fell 0.26%, while Britain's FTSE 100 tumbled 0.97%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.89%, while Japan’s Nikkei 225 Index rose 0.30%.
Also Tuesday, data showed that China’s HSBC services purchasing managers’ index dipped to 52.4 from August's reading of 52.8, but remained well above the 50 level that separates expansion from contraction.
During early U.S. trade, the Dow Jones Industrial Average slid 0.29%, the S&P 500 index fell 0.23%, while the Nasdaq Composite index edged down 0.24%.
President Barack Obama repeated Monday that he is willing to negotiate with congressional Republicans on a range of topics, including healthcare and energy policy, but only after the government is reopened.
Mr. Obama also called on Congress to raise the government borrowing limit ahead of the October 17 deadline, the date which the Treasury Department has estimated the U.S. could risk a default.
Republican House Speaker John Boehner on Sunday said the House will not support bills to fully reopen the government or increase the U.S. debt ceiling unless the Obama administration agrees to talks aimed at reducing the deficit.
Alcoa dropped 0.38%, as the aluminum producer was set to kick off earnings season after the close on Tuesday. On Monday, Morgan Stanley cut its rating on the company to "equal weight" from "overweight".
Also on the downside, Amazon saw shares shares edge down 0.15%, even after defeating International Business Machines' effort to reopen bidding for a CIA cloud-computing contract.
The U.S. Court of Federal Claims granted Amazon’s request for judgment on the administrative record following a hearing on Monday. IBM shares were down 0.31% following the news.
In the telecom sector, AT&T fell 0.12% amid reports the company is in talks with America Movil to enter the European telecommunications market together.
On the upside, Talisman Energy surged 2.35% after billionaire investor Carl Icahn Tweeted that he had purchased about 61 million shares of the oil producer and may seek a seat on the company's board.
Other stocks likely to remain in focus included Yum Brands, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slipped 0.29%, France’s CAC 40 retreated 0.46%, Germany's DAX fell 0.26%, while Britain's FTSE 100 tumbled 0.97%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.89%, while Japan’s Nikkei 225 Index rose 0.30%.
Also Tuesday, data showed that China’s HSBC services purchasing managers’ index dipped to 52.4 from August's reading of 52.8, but remained well above the 50 level that separates expansion from contraction.