Stocks edged down ahead of key debt-ceiling talks: Stock market news today

US stock market opened lower on Tuesday as investors digested fresh economic data and focused on negotiations over the debt-ceiling stalemate, with talks set to resume later in the day.

The S&P 500 (^GSPC) edged down 0.28%, while the Dow Jones Industrial Average (^DJI) ticked 0.38% lower, declining by more than 100 points. The technology-heavy Nasdaq Composite (^IXIC) fell 0.26% at the open.

Wall Street is watching for signs of movement in the debt-ceiling impasse, with a meeting between President Joe Biden and House Speaker Kevin McCarthy set for Tuesday afternoon in Washington.

The meeting comes after Treasury Secretary Janet Yellen sounded the alarm once again on Monday if Congress has not raised or suspended the debt limit by early next month. She wrote in a letter to lawmakers that “it would cause severe hardship to American families”, with the US potentially defaulting as soon as June 1.

Tuesday’s meeting will include Senate Majority Leader Chuck Schumer, Senate Minority Leader…

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