May 9 (Reuters) - U.S. stock index futures were lower on Tuesday, with dour earnings forecasts from Apple supplier Skyworks and payments firm PayPal weighing on sentiment, while investors focused on a debt-ceiling deadlock.
Regional bank shares, which failed to hold on to their short-lived bounce a day earlier, extended declines, with Pacwest Bancorp (PACW.O) falling 12.6% and Western Alliance (WAL.N) dropping 5.9%.
Markets are waiting for an update on the debt ceiling from a meeting between U.S. President Joe Biden, Republican House Speaker Kevin McCarthy and other congressional leaders at the White House later in the day.
Worries of a potential government default loom over Washington as early as June 1, if Congress does not act to resolve the deadlock.
The data-packed week will see the release of the much-awaited inflation report on Wednesday. The Labor Department's consumer price index (CPI) is expected to climb 0.4% in April after gaining 0.1% in March.
Reports on producer prices, weekly jobless claims and consumer sentiment are all lined up for the week.
"Last week's jobs report appeared to have something for every optimist - indicating that the labor market is slowing, showing Fed policy is pushing in the right direction," said Susannah Streeter, head of money and markets, Hargreaves Lansdown.
"The feel-good factor has fizzled out as investors play a waiting game for the next slice of data on the economy, while worries about the U.S. defaulting on its debts edge higher again."
At 6:51 a.m. ET, Dow e-minis were down 118 points, or 0.35%, S&P 500 e-minis were down 14.75 points, or 0.36%, and Nasdaq 100 e-minis were down 53.25 points, or 0.4%.
Among stocks, chip-gear maker Skyworks Solutions Inc's (SWKS.O) shares tumbled 10% in premarket trading after forecasting current-quarter revenue and earnings below estimates.
Investors were optimistic about Skyworks after Apple Inc's (AAPL.O) strong quarterly showing on Thursday. Shares of other Apple suppliers including Qualcomm (QCOM.O) and Qorvo (QRVO.O) fell 0.6% and 1.5%, respectively.
PayPal Holdings (PYPL.O) dropped 4.8% after a cut to its margin forecast.
Novavax(NVAX.O) added 8.5% as the drugmaker plans a 25% cut to its global workforce.
Wall Street's three main indexes ended the previous session flat, but growth-oriented Nasdaq 100 index (.NDX) touched a more than eight-month high, while the NYSE FANG+TM index (.NYFANG) jumped to its highest since April 2022.
