March S&P 500 E-Mini futures (ESH25) are up +0.16%, and March Nasdaq 100 E-Mini futures (NQH25) are up +0.28% this morning, extending Friday’s solid gains after muted U.S. inflation data helped reignite Federal Reserve rate cut bets, while investors also awaited a fresh batch of U.S. economic data this week.
Investor sentiment also received a boost after a last-minute funding bill averted a U.S. government shutdown. The U.S. Senate voted 85 to 11 on Saturday to approve a spending bill that will fund the government until mid-March. The deal provides for spending until March 14th, extends the farm bill, grants extra aid to farmers, and delivers disaster relief to victims of hurricanes. U.S. President Joe Biden signed the legislation into law on Saturday morning, avoiding the year-end shutdown.
