Stocks Are on The Decline in Pre-Market Trading as Investors Await Debt Ceiling Updates

United Asset Strategies |

U.S. stock futures are lower. Stocks are on the decline in pre-market trading as investors await updates on the progress of debt ceiling negotiations and the release of inflation data on Wednesday and Thursday. This afternoon, President Biden is scheduled to meet with top Congressional leaders to discuss raising the US borrowing limit. Meanwhile, in the bond market, treasury yields are seeing little change ahead of speeches from Fed officials in the coming days. Despite ongoing earnings reports, the focus remains on the upcoming release of CPI tomorrow morning before the bell and PPI on Thursday. In overseas trading sessions, Asian markets have mostly closed lower and European markets are also on the decline. The dollar is gaining strength, gold is experiencing a slight increase, and crude prices are seeing more pressure.