Wall Street on unaccustomed skid

With Washington's budget battle escalating and uncertainty over the Fed's actions still hanging over the markets, the S&P 500 is in danger of losing ground for a fifth straight session. If so, that would be its first such streak since the last week of 2012. The Dow has also suffered four straight losing sessions, but the Nasdaq has been relatively strong, posting gains in four of the past six trading days.

Investors will have two government economic reports to consider today, beginning with the government's look at August durable goods orders at 8:30 am. ET. Consensus forecasts call for a 0.5 percent drop, following a 7.4 percent decrease in July. At 10 a.m. ET, we'll get a look at new home sales for August, seen rising 6.6 percent to an annual rate of 420,000 units.

The Treasury will sell $35 billion in 5-year notes, with the results of that sale available shortly after 1 p.m. ET.

The Mortgage Bankers Association will be out with its weekly look at mortgage applications at 7 a.m. ET, while the Energy Department releases its weekly assessment of oil and gasoline inventories at 10:30 a.m. ET.

Auto parts retailer AutoZone (AZO) is among the few companies out with quarterly earnings this morning, while Bed Bath & Beyond (BBBY) and Jabil Circuit (JBL) will issue their numbers after today's closing bell.

Crown Holdings (CCK) is among our stocks to watch today, after it cut its current quarter earnings guidance below Wall Street estimates. The packaging company cites lower than expected demand in certain markets, and also announced plans to cut 300 jobs in Europe.

Noble Corp. (NE) will spin off its older oil drilling rigs into a separate company that may go public next year. Noble is trying to command a higher valuation for its best drilling assets.

Wells Fargo (WFC) will have to face a Justice Department suit over alleged mortgage misconduct, after a judge rejected its move to dismiss the suit. The judge did, however, narrow the scope of the case, dismissing any claims filed before June 25, 2009.

Amazon.com (AMZN) is unveiling new versions of its Kindle line, with faster and lighter versions than the prior generation.

Netflix (NFLX) is seeking more new Netflix-only versions of "Arrested Development", although chief content officer Ted Sarandos told a conference that details still need to be worked out.

BlackBerry (BBRY) executives sold stock on the same day the company announced significant job cuts and warned of a sizable loss. Canadian filings show CEO Thorsten Heins and CFO Brian Bidulka sold a little over half of newly vested shares on September 20, although there was no wrongdoing involved. The shares were sold automatically as part of a plan to cover taxes when shares vest.