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US Futures Slightly Lower as Risk of Government Shutdown Looms

By: MT Newswires
Posted: 9/25/2013 8:36:00 AM
Referenced Stocks: CLVS;ONTY

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.