{"id":159183,"date":"2023-05-31T08:00:00","date_gmt":"2023-05-31T00:00:00","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=919087"},"modified":"2023-05-31T08:00:00","modified_gmt":"2023-05-31T00:00:00","slug":"stock-futures-slide-with-all-eyes-on-debt-ceiling-vote-stock-market-news-today-2","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2023\/05\/31\/stock-futures-slide-with-all-eyes-on-debt-ceiling-vote-stock-market-news-today-2\/","title":{"rendered":"Stock futures slide with all eyes on debt-ceiling vote: Stock market news today"},"content":{"rendered":"
\"MediaIntel.Asia\"<\/a><\/div>\n

US stock futures fell on Wednesday morning, as investors kept a watchful eye on the prospects for the debt-limit deal in an expected House floor vote later. Meanwhile, China\u2019s economic woes pressured global markets.
\nContracts on the S&P 500 (^GSPC) were 0.21% lower, while those on the Dow Jones Industrial Average (^DJI) dipped 0.17%. Those on the technology-heavy Nasdaq Composite (^IXIC) slipped 0.12%.
\nUS bond yields weakened as investors fretted over the potential impact of the debt-limit deal and braced for the release of fresh jobs data. The yield on the benchmark 10-year Treasury dropped to 3.64%. The two-year note yield slipped to 4.4%, while that on the 30-year bond dropped to 3.85%.
\nThe debt-ceiling agreement negotiated by President Joe Biden and House Speaker Kevin McCarthy passed its first key test on Tuesday, when it gained approval from the Republican-led House Rules Committee despite opposition from hard-liners. That cleared the way for the deal to go before the House on Wednesday.
\nThe clock is ticking down, as Congress must race to pass the deal to avoid a catastrophic default by June 5. That so-called X Day\" is when the US will run out of money to pay its bills, Treasury Secretary Janet Yellen has warned.
\nRepublican House Speaker Kevin McCarthy speaks to the press after a meeting with President Joe Biden on debt ceiling in Washington, D.C., the United States, May 22, 2023. (Photo by Aaron Schwartz\/Xinhua via Getty Images)
\nHawkish comments from Federal Reserve officials poised a headwind for Wall Street. Federal Reserve Bank of Richmond President Thomas Barkin said Tuesday he's looking for signs that demand is cooling to be convinced that inflation will ease, speaking at a National Association for Business Economics event.
\nMeanwhile, Federal Reserve Bank of Cleveland President Loretta Mester, president of the Federal Reserve Bank of Cleveland, said she sees no \u201ccompelling reason\u201d to pause interest-rate increases amid the debt-limit deal, speaking in a Financial Times interview published Wednesday.
\nFed officials Patrick Harker, Susan Collins and Michelle Bowman are expected to speak publicly later Wednesday.
\nIn light of recent economic data, markets are pricing in an increase of 25 basis points in interest rates from the Fed at policymakers' meeting on June 13-14.
\nStory continues
\nElsewhere, China\u2019s factory activity slumped to its weakest level for a second straight month, another sign its post-pandemic economic recovery is losing steam. Asian markets tumbled after the release of the data.
\nWednesday's economic docket will bring the latest US job openings report (JOLTS) and the Fed's Beige Book release.
\nIn US equities, the run-up in stocks linked to AI was losing momentum, after the buzz around the technology helped boosted the Nasdaq 100 Index (^NDX) on Tuesday. Shares of ChargePoint Holdings, Inc. (CHPT) slipped, while C3.ai, Inc. (AI) dipped more than 1% in pre-market trading Wednesday.
\nIn single-stock moves, SoFi Technologies, Inc. (SOFI) shares rallied more than 5% in the wake of the debt ceiling deal. The bill would reinstate government student loan repayments, benefiting the online personal finance company.
\nShares of HP Inc. (HPQ) sank more than 5% after the computing giant posted better-than-expected quarterly earnings on Tuesday, but reported sales that fell more than analysts estimated.
\n__
\nDani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv
\nClick here for the latest stock market news and in-depth analysis, including events that move stocks
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This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

US stock futures fell on Wednesday morning, as investors kept a watchful eye on the prospects for the debt-limit deal in an expected House floor vote later. Meanwhile, China\u2019s economic woes pressured global markets.
\nContracts on the S&P 500 (^GSP…<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126,669,586,755,671,1607,194,222,465,1284,1542,1242,484,445,1340],"tags":[2005,10320,1696,1845,10315,8864,10328,3479,10336],"class_list":["post-159183","post","type-post","status-publish","format-standard","hentry","category-apple","category-bank","category-economy","category-factory","category-finance","category-manufacturing","category-news-chinese-law","category-online-video","category-social-media","category-stock-market","category-technology","category-twitter","category-united-states","category-xinhua","category-youtube","tag-android","tag-biden","tag-congress","tag-facebook","tag-media-intelligence","tag-news-media","tag-pandemic","tag-stocks","tag-washington"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/159183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=159183"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/159183\/revisions"}],"predecessor-version":[{"id":159186,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/159183\/revisions\/159186"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=159183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=159183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=159183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}