Stock futures fall slightly as Wall Street focuses on tense debt ceiling negotiations

32 minutes ago

Bank of America raises year-end target for S&P 500

Bank of America strategist Savita Subramanian raised her year-end target for the S&P 500 to 4,300 from 4,000 on Sunday night.

The new target is more than 2% above where the index closed on Friday. Subramanian said in a note that the recent focus on efficiency by large companies should help make earnings more stable going forward.

For more on this call and other Wall Street forecasts, check out CNBC Pro.

— Jesse Pound

43 minutes ago

Debt cancellation negotiations resume on Monday

Federal leaders are expected to continue negotiations on the US debt ceiling on Monday as the country nears a potential default.

President Joe Biden and House Speaker Kevin McCarthy, R-Calif., are scheduled to meet in person at the White House.

Treasury Secretary Janet Yellen said Sunday that “tough choices” will have to be made about which bills will remain unpaid if the debt ceiling is not raised, reaffirming her warning that the United States could default on its debt as early as June 1.

— Jesse Pound, Ashley Capoot

51 minutes ago

Equity futures open modestly lower

Stock futures fell on Sunday night, with Dow futures down about 0.2% and S&P 500 and Nasdaq 100 futures losing about 0.3%.

— Jesse Pound

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