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A
bill to lift the $31.4 trillion U.S. debt ceiling and achieve
new federal spending cuts made its way to the House of
Representatives for debate on Tuesday and an expected vote on
passage is due later in the day.
House passage would send the bill to the Senate, where debate
could stretch to the weekend, as a June 5 deadline loomed.
The debt ceiling debate has been an overhang for financial
markets, but the S&P 500 and the Nasdaq indexes were still set
for monthly gains in May.
Investors now await the Labor Department's closely watched jobs
report for May, due on Friday, which could show how resilient
the economy has been in a high interest rates and inflation
environment.
At 5:39 a.m. ET, Dow e-minis were down 42 points, or 0.13%, S&P
500 e-minis were down 7.5 points, or 0.18%, and Nasdaq 100
e-minis were down 24.5 points, or 0.17%.
Among early movers, shares of Hewlett Packard Enterprise Co
slipped 7.8% in premarket trading as it missed Wall Street
estimates for second-quarter revenue on Tuesday.
HP Inc dropped 4.7% as it also missed quarterly revenue
estimates, as inflation-hit customers spent less on the
company's personal computers.
Nvidia Corp shares fell 1.4% a day after it hit a record high
and briefly joined an elite club of U.S. companies sporting a $1
trillion market value.
(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Maju
Samuel)
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