NEW YORK ( TheStreet) -- Stock futures were lower Wednesday amid concerns the federal budget deal adds weight for the central bank to begin cutting stimulus next week.
Futures for the
Dow Jones Industrial Average were falling 9.00 to 15,969.0 while
S&P 500 futures were off 1.50 to 1801.5.
Nasdaq futures were 4.20 lower at 3511.8.
The budget deal -- which still needs approval from the House and Senate -- sets federal agency spending levels at $1.014 trillion for next fiscal year and reduces the chances of a government shutdown. This increases stability and reduces the likelihood that stimulus will be needed to support the economy.
Companies expected to see price action include
Smith & Wesson
. After market close Tuesday, MasterCard's board approved a stock split via a stock dividend and authorized a buyback program of up to $3.5 billion of Class A common stock. Smith & Wesson posted second-quarter profit that beat expectations, causing its shares to jump more than 5%. Costco on Wednesday reported a quarterly profit of 96 cents a share, below Wall Street forecasts.
is forecast to post third-quarter earnings of 86 cents a share.
Wednesday's economic calendar is light with and Energy Information Administration report on petroleum inventories at 10:30 a.m. EST and the Treasury Budget at 2 p.m.
Germany's DAX was rising 0.23% while the FTSE was up 0.22%. The Nikkei closed down 0.62% while the Hang Seng was off 1.71%.