Stocks could take another knock Wednesday as a new U.S. budget deal raises the chances that the Federal Reserve might begin scaling back its support for the economy.
U.S. stock futures were weaker before the open, with the S&P 500 contract down 0.3%.
Congressional negotiators reached a bipartisan budget compromise on Tuesday that would prevent another government shutdown, if approved by the House and Senate. The deal would set spending levels, reduce the deficit and relieve some of the arbitrary, forced spending cuts.
The reduced risk of a damaging shutdown would give support to those arguing for the Fed to begin trimming its $85-billion a month bond purchases as early as next week.
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