Dow futures trade lower, debt ceiling remains in focus

  • Stock Market News
Dow futures trade lower, debt ceiling remains in focus
Credit: © Reuters. - U.S. stock futures were trading lower during Sunday evening as traders monitored continuing debt ceiling negotiations in the U.S., with President Joe Biden and House Speaker Kevin McCarthy scheduled to continue talks later in Monday's session.

By 19:05 ET (23:05 GMT), Dow Jones futures and S&P 500 futures were down 0.2% apiece while Nasdaq 100 futures eased 0.1%.

In the week ahead, market participants will be looking towards building permits , preliminary manufacturing and services PMIs, new home sales , FOMC meeting minutes , GDP , pending home sales , PCE price index , Michigan consumer expectations and sentiment as well as speeches from Bullard , Logan , Barkin , Bostic , Yellen and Collins .

Among earnings, companies including Zoom Video Communications Inc (NASDAQ: ZM ), Lowe’s Companies Inc (NYSE: LOW ), Intuit Inc (NASDAQ: INTU ), Palo Alto Networks Inc (NASDAQ: PANW ), BJs Wholesale Club Holdings Inc (NYSE: BJ ), Dell Technologies Inc (NYSE: DELL ), Nvidia Corporation (NASDAQ: NVDA ), Snowflake Inc (NYSE: SNOW ), and Costco Wholesale Corp (NASDAQ: COST ) are set to release results throughout the week.

During Friday's trade, the Dow Jones Industrial Average lost 199.3 points or 0.3% to 33,426.6, the S&P 500 lost 6.1 points or 0.1% to 4,192, while the Nasdaq Composite lost 30.9 points or 0.2% to 12,657.9. For the week, the Dow added 0.3%, while the S&P 500 and Nasdaq lifted 1.5% and 3.8%, respectively, to close near to near 9-month highs.

On the bond markets, United States 10-Year lifted to 9-week highs of 3.678%.

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