Futures are falling sharply on day 14 of shutdown
Mon, 14 Oct 2013 14:05:25 GMT —
NEW YORK - U.S. futures are down sharply as the nation heads into the third week of a partial government shutdown.
Negotiations to clear a path for a new budget agreement ended Sunday at an impasse. That could begin pressuring the bond market, which is closed Monday for Columbus Day.
The U.S. earnings season goes into high gear this week, with Coca-Cola, Johnson & Johnson and Citigroup posting results Tuesday.
Bank of America, PepsiCo and IBM follow Wednesday, and Google, American Airlines and Goldman Sachs report Thursday.
General Electric and Morgan Stanley are due Friday.
The U.S. will likely deplete its ability to borrow money by Thursday.