Before the bell: Wall Street poised to drop

U.S. stocks were headed for early declines Monday, after Congress failed to find common ground on a deal to raise the debt ceiling over the weekend.
On weekends the negotiations faltered and both parties indicated they would pursue separate legislative tracks.
If Congress fails to raise the $14.3 trillion debt limit, Americans could face rising interest rates and a declining dollar, among other problems.

World markets: European stocks edged lower in morning trading. Britain's FTSE 100 slipped 0.2%, the DAX in Germany was little changed and France's CAC 40 fell 0.4%.
Asian markets ended the session lower. The Shanghai Composite dropped 3%, the Hang Seng in Hong Kong lost 0.7% and Japan's Nikkei fell 0.8%.
Companies: Shares of BlackBerry maker Research in Motion (RIMM) fell more than 2% after the company announced it was laying off 2,000 employees -11% of its workforce.
ETrade (ETFC)'s stock jumped more than 5% on talk that TDAmeritrade (AMTD) may consider a bid for the online brokerage.
After the market close, investors will get results from chipmaker Texas Instruments (TXN, Fortune 500) and video rental company Netflix (NFLX).
The results from Netflix will be closely watched, in part due to massive run Netflix shares have had run this year - up nearly 60%.