US LAWMAKER
U.S. stock futures slid, signaling the Standard & Poor’s 500 Index will pare its quarterly gain, as a stalemate over the federal budget increased the risk of a government shutdown.
Bank of America Corp. fell 1.2 percent and JPMorgan Chase & Co. slipped 1.3 percent. EBay Inc. declined 0.9 percent after losing a bid to dismiss a U.S. lawsuit alleging violation of antitrust laws, Bloomberg reports.
S&P 500 futures expiring in December fell 0.9 percent to 1,671.5 at 8:32 a.m. in New York. The benchmark gauge has added 3.6 percent this month, extending its quarterly gain to 5.3 percent, as the Federal Reserve kept its $85 billion of monthly bond-buying. Dow Jones Industrial Average contracts dropped 136 points, or 0.9 percent, to 15,059.
“U.S. politicians have until midnight to reach an agreement to avoid a shutdown, and all eyes are on the Democrats and the Republicans,” Nick Skiming, who helps manage about $10 billion at Ashburton Ltd., had revealed.