Futures Open Lower as US Debt Panel Eyed

Sunday, 20 Nov 2011 06:18 PM

 

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NEW YORK (Reuters) - U.S. stock index futures opened lower Sunday, with Dow Jones and S&P 500 futures briefly dropping more than 1 percent, as a congressional committee looked set to concede failure in its bid to cut at least $1.2 trillion from the deficit over the next ten years.

While the group has until midnight on Wednesday to bridge deep partisan differences over taxes and spending, comments from congressional aides suggested the group would admit defeat on Monday, adding another element of uncertainty to an economy that continues to struggle to gain traction.

S&P 500 futures fell 8.4 points while Dow Jones industrial average futures lost 100 points. Nasdaq 100 futures were flat, dipping 1.75 points. (Reporting by Ryan Vlastelica)

© 2014 Thomson/Reuters. All rights reserved.

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