Editor’s Note: The future prices of benchmark tracking ETFs were updated in the story.
U.S. stock futures fell on Tuesday following Monday’s advances. Futures of major benchmark indices were lower.
The indices dropped as the possibility of a government shutdown neared, with the lawmakers having until Wednesday at 12:01 a.m. ET to reach an agreement.
Meanwhile, Vice President JD Vance stated outside the White House that “I think we’re headed to a shutdown because the Democrats won’t do the right thing,” placing the blame on Democratic leaders for linking government funding to healthcare negotiations.
Meanwhile, the 10-year Treasury bond yielded 4.13% and the two-year bond was at 3.60%. The CME Group’s FedWatch tool‘s projections show markets pricing an 89.3% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
| Futures | Change (+/-) |
| Dow Jones | -0.20% |
| S&P 500 | -0.16% |
| Nasdaq 100 | -0.14% |
| Russell 2000 | -0.19% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, fell in premarket on Tuesday. The SPY was down 0.24% at $662.12, while the QQQ fell 0.14% to $597.88, according to Benzinga Pro data.
Cues From Last Session
Information technology, financial, and consumer discretionary stocks recorded the biggest gains on Monday, leading most sectors on the S&P 500 to a positive close. However, energy and communication services stocks bucked the overall market trend, closing the session lower. U.S. stocks settled higher, with the Nasdaq gaining more than 100 points.
Nvidia Corp. (NASDAQ:NVDA) shares closed higher by around 2%, while other AI stocks, including Advanced Micro Devices Inc. (NASDAQ:AMD) and Micron Technology Inc. (NASDAQ:MU), also recorded gains during the session.
Robinhood Markets Inc. (NASDAQ:HOOD) surged 12% on Monday after CEO Vlad Tenev revealed on social media that more than four billion event contracts have been traded on the platform since their launch.
Major indices, meanwhile, recorded losses last week, with the Nasdaq Composite falling 0.7% and the S&P 500 losing 0.3%. The Dow also fell 0.2% during the week.
On the economic front, U.S. pending home sales …