Futures Are on the Rise in Pre-Market & Yields Declining as Markets React to Debt Ceiling Deal
U.S. stock futures are higher. Futures are on the rise in the pre-market and yields are declining as markets react to the news from the holiday weekend that Washington has reached a deal in principle to raise the debt ceiling. The agreement, which will extend the debt ceiling until 2025, will require bipartisan support to pass through Congress later this week. Shortly after the market opens, consumer confidence data will be released. Looking ahead, the short trading week will conclude with the release of the May jobs report on Friday morning. Earnings season has mostly come to a close, with 78% of S&P 500 companies surpassing earnings expectations. Asian markets closed with mixed results, while European markets are choppy in afternoon trading. Crude oil prices are declining sharply, while gold prices are gaining momentum and the dollar is weakening.