Late Equity Roundup: Slipping Lower

Stocks trading weaker, near late session lows as it looks like another day will pass with no resolution to the impending Debt Ceiling "x" date where the US will be in default on or around June 1. That said, negotiations will likely resume this evening.
Currently, S&P E-Mini futures are down 41.25 points (-0.98%) at 4163.5; DJIA down 175.34 points (-0.53%) at 33111.85; Nasdaq down 141.3 points (-1.1%) at 12580.

• Leading gainers: Energy sector continues to outperform as WTI crude holds moderate gains (+0.86 at 72.91) with oil & gas refiners well bid (Chevron +2.70%, Occidental +1.85%, Exxon +1.70%, Marathon +1.15%).
• Laggers: Materials, Information Technology and Communication Services sectors underperforming, software and services providers weighing on the latter (ORCL -2.90%, ADSK -2.80%, SNPS -2.05%).
• For a technical point of view, S&P E-minis trend needle continues to point north and today’s pullback is considered corrective. The contract traded higher last week and breached key resistance and the bull trigger at 4206.25, the May 1 high. Clearance of this level confirms an extension of the bull trend from Mar 13 and opens 4244.00, Feb 2 high and the next important resistance.
• On the flipside, key support is 4062.25, May 4 low. Initial support lies at 4156.44, the 20-day EMA.