Stock futures are trading lower as hopes fade for a resolution this week to the standoff over increasing the nation’s borrowing limit.
House leaders late Thursday postponed voting on a measure to raise the debt ceiling. Global markets fell overnight. Oil dropped below $97 per barrel.
Traders also are awaiting a report at 8:30 a.m. on U.S. economic growth in the second quarter. The report is expected to show that the economy had its weakest back-to-back quarters since the recovery began in June 2009.
Ahead of the opening bell, Standard & Poor’s 500 futures are down 6 points, or 0.5 percent, at 1,291. Dow Jones industrial average futures are down 64, or 0.5 percent, at 12,129. Nasdaq 100 futures are down 10, or 0.4 percent, at 2,361.