June S&P 500 futures (ESM23) are up +0.30%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.20% this morning as market participants pinned hopes on talks in Washington to resolve the deadlock on raising the U.S. debt ceiling.
On Tuesday, discussions regarding the U.S. debt ceiling between President Joe Biden and bipartisan Congressional leaders did not result in significant advancements. However, U.S. President Joe Biden said he was “optimistic” about securing a deal to avert a U.S. debt default. At the same time, 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 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.
