Futures are falling sharply on day 14 of shutdown

Associated Press
Senate Majority Leader Harry Reid of Nevada, left, comments to journalists as he takes the elevator after a rare Senate session on Capitol Hill in Washington, Sunday, Oct. 13, 2013. Senate Republicans and Democrats hit an impasse Sunday over spending in their last-ditch struggle to avoid an economy-jarring default in just four days and end a partial government shutdown that's entering its third week. ( AP Photo/Jose Luis Magana)
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NEW YORK (AP) — 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.

Dow Jones industrial futures are down 104 points to 15,071. S&P futures have lost 12.3 points to 1,686.70. Nasdaq futures are down 15.75 points to 3,209.75.

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.

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