© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. REUTERS/Brendan McDermid
(Reuters) – 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, were down 75 points, or 0.23%, were down 8.25 points, or 0.2%, and were down 13.25 points, or 0.1%.
Among early movers, Agilent Technologies Inc (NYSE:) shares fell 9.1% in premarket trading after the company cut its annual sales and profit forecasts.
Several midcap retailers are scheduled to report results on Wednesday including Kohl’s Corp (NYSE:), American Eagle Outfitters (NYSE:) Inc and Abercrombie & Fitch Co.
Chipmaker Nvidia (NASDAQ:) Corp dipped 0.8% ahead of its quarterly earnings after markets close.
