The S&P 500 futures are down 11 points and are trading 0.1% below fair value.
The Nasdaq 100 futures are down 32 points and are trading 0.2% below fair value.
The Dow Jones Industrial Average futures are down 108 points and are trading 0.2% below fair value
Uncertainty about the debt ceiling is still a limiting factor after Treasury Secretary Yellen warned again yesterday that the Treasury will likely not be able to meet all of the government’s obligations potentially as early as June 1. President Biden will meet with congressional leaders to discuss the debt ceiling today at 3:00 p.m. ET, according to Reuters.
Concerns about global growth are another factor weighing on sentiment this morning after China reported a slate of disappointing economic data from April, including retail sales, fixed asset investment, and industrial production.