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US futures fall as obstacles on budget deal arise

Wednesday - 11/28/2012, 10:20am  ET

Senate Minority Leader Mitch McConnell of Ky., right, gestures as he speaks with reporters on Capitol in Washington, Tuesday, Nov. 27, 2012, following a GOP strategy luncheon. From left are, Sen. John Barrasso, R-Wyo., Sen. John Thune, R-S.D., and McConnell. (AP Photo/J. Scott Applewhite)

NEW YORK (AP) -- U.S. stock futures are heading lower along with overseas markets as obstacles blocking the way to a compromise on the U.S. budget grow.

Dow Jones industrial futures are down 34 points to 12,828. The broader S&P futures have slid 4.9 points to 1,392.50. Nasdaq futures are down 7.5 points to 2,633.50.

Senate Democrats are divided over whether programs like Medicaid and Medicare should be part of the discussion as far as cutting the nation's debt load. But some argue that if Republicans agree to raise taxes in some areas, Democrats can't take such benefit programs off the table.

In early European trading, Britain's FTSE 100 fell 0.3 percent to 5,785.40 while Germany's DAX lost 0.2 percent to 7,320.92. France's CAC-40 fell 0.3 percent to 3,491.36.


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