June S&P 500 futures (ESM23) are up +0.23%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.11% this morning after three major U.S. benchmark indices finished the regular session lower as market participants worried about whether the outcome of the U.S. debt ceiling talks would result in staving off a historic default.
On Tuesday, discussions regarding the U.S. debt ceiling between President Joe Biden and bipartisan Congressional leaders did not result in significant advancements. House Speaker Kevin McCarthy said after an hour of talks that the two sides remained “far apart” on an agreement to raise the federal borrowing limit. But he said, “It’s possible to get a deal by the end of the week. It’s not that difficult to get to an agreement.” The White House described the talks as “productive and direct.” Also, a source familiar with the president’s plans said President Biden would cut short an Asia trip this week, returning Sunday to Washington for negotiations with Republicans to avert a potentially catastrophic U.S. debt default.
