June S&P 500 E-Mini futures (ESM25) are down -0.05%, and June Nasdaq 100 E-Mini futures (NQM25) are down -0.09% this morning as concerns remain about the U.S. fiscal outlook after President Donald Trump’s signature tax bill narrowly passed the House of Representatives on Thursday.
Analysts are warning that the continued deterioration in the U.S. government’s fiscal position will keep putting pressure on riskier assets. President Trump’s sprawling tax and spending bill is expected to widen budget deficits by $2.7 trillion through 2034. The bill now heads to the Senate, with a vote on approval expected by August.
