US Futures Slightly Lower as Risk of Government Shutdown Looms

By Staff,

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US stock futures were flat to slightly lower as investors watched lawmakers in Washington move closer to a deadline for reaching a deal on a budget and for raising the debt ceiling, without which the government will be forced into a shutdown. Yesterday, U.S. Treasury Secretary Jack Lew said that the markets' confidence that a deal will be struck is "greater than it should be."

August durable goods orders meanwhile rose by 0.1% compared to the consensus for a drop of 0.6%. Data on new-home sales in August will be out on 10 a.m.

In equities, Oncothyreon ( ONTY ) rose 23.33% after saying Merck Serono will continue clinical development of the MUC1 antigen-specific cancer immunotherapy tecemotide under a license agreement with ONTY. Clovis Oncology ( CLVS ) fell 12.28% after Bloomberg reported the company is struggling to find a buyer.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CLVS , ONTY

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