June S&P 500 futures (ESM23) are trending up +0.17% this morning after the S&P 500 and Nasdaq 100 closed sharply higher on Thursday as blowout guidance from Nvidia and progress on debt ceiling talks boosted market sentiment, while investors awaited a reading on the Federal Reserve’s preferred inflation gauge.
U.S. President Joe Biden and top congressional Republican Kevin McCarthy have moved closer to a deal to raise the debt ceiling and cap federal spending for two years, according to people familiar with the matter. The White House and Republican negotiators are looking to finalize the agreement in the coming days, raising hopes of an end to the fiscal standoff. President Biden said Thursday the U.S. would avoid a catastrophic credit default.
