Futures dip as debt ceiling talks drag on

U.S. stock index futures slipped on Wednesday as yet another round of talks between the White House and Republican representatives over raising the debt ceiling failed to make a breakthrough.

The lack of progress in talks to raise the $31.4 trillion borrowing limit ahead of the June 1 deadline has weighed on Wall Street, with its benchmark indexes ending the previous session sharply lower.

Investors also await minutes from the Federal Reserve’s May 2-3 meeting, due later in the day, to assess the central bank’s interest-rate path.

Shorter-dated Treasury yields continued to rise, with yields on the 1-month bond hitting another record high at 5.8920%.

At 5:39 a.m. ET, Dow e-minis were down 75 points, or 0.23%, S&P 500 e-minis were down 8.25 points, or 0.2%, and Nasdaq 100 e-minis were down 13.25 points, or 0.1%.

Among early movers, Agilent Technologies Inc (A.N) shares fell 9.1% in premarket trading after the company cut its annual sales and profit forecasts.

This report’s information was first seen on REUTERS; to read more, click this link.