U.S. futures dip, Moody's flags government shutdown impact - what's moving markets
Investing.com -- Stock futures inch down, hinting a possible reversal from a positive session on Monday, as Wall Street's main indices are on pace to post losses in September. Meanwhile, investors gauge developments in an ongoing budgetary stand-off in Washington, as Moody's (NYSE:MCO) warns that a potential government shutdown caused by the fight will be «negative» for the U.S.'s rating. Elsewhere, President Biden prepares to visit Michigan to show his backing for striking auto workers.
1. Stock futures edge lower
U.S. stock futures moved down on Tuesday, pointing to a pullback from gains in the previous session, with the major indices on Wall Street on track to end September lower.
At 04:49 ET (08:49 GMT), the Dow futures contract shed 117 points or 0.3%, S&P 500 futures lost 18 points or 0.4%, and Nasdaq 100 futures fell by 72 points or 0.5%.
Along with the fallout from the Federal Reserve's hawkish policy update last week, investors began the final trading week of the month eyeing an ongoing budgetary stand-off in Washington that threatens to culminate in a potential government shutdown.
On Monday, the benchmark S&P 500, tech-heavy Nasdaq Composite, and 30-stock Dow Jones Industrial Average climbed, snapping four-day losing streaks. Sentiment was supported by an uptick in shares in e-commerce group Amazon (NASDAQ:AMZN), which announced plans to invest in artificial intelligence firm Anthropic, adding more fuel to the hype around emerging AI technology.
But all of the indices are still on course to finish September in the red, with the S&P 500 in particular heading for its worst month since December.
2. U.S. House to consider spending bills as possible government shutdown looms
The U.S. House of Representatives is
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