With the deadline to raise the debt limit a little more than a week away, lawmakers appeared no closer to resolving the debt impasse over the weekend.
On Sunday, Treasury Secretary Jack Lew said that Congress was "playing with fire," and warned the U.S. could default in just over a week.
That could lead to a "subsequent meltdown of global asset prices," said ETX Capital market strategist Ishaq Siddiqi.
U.S. stocks finished higher Friday, but the Dow declined 185 points, or 1.2%, for the week.
The wrangling in Washington is expected to dominate markets, in what is otherwise a light day for corporate and economic news.
The first corporate results of the third quarter come out Tuesday, when aluminum maker Alcoa (Fortune 500) reports after the market close. Two of the biggest banks -- Dow component , JPMorgan Chase (Fortune 500)and , Wells Fargo (Fortune 500) report Friday morning. ,
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