Futures off as Congress heads for another showdown
NEW YORK (AP) -- U.S. stock futures are heading lower with the 113th Congress being sworn after a rancorous showdown over the budget, and what promises to be more of the same when lawmakers take on the debt ceiling.
Dow Jones industrial futures are down 27 points to 13,304. The broader S&P futures have lost 4.2 points to 1,452.90. Nasdaq futures are down 5 points to 2,733.75.
Congress must soon vote to raise the amount that the country can borrow in order to avoid defaulting on loans. President Barack Obama has said the issue isn't up for debate.
Also on Thursday, the Labor Department releases weekly jobless benefit claims and ADP, a payroll provider, posts its hiring report for December.
Retailers and automakers are releasing sales numbers for December as well.
(Copyright 2013 by The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)