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Stock futures are slightly higher after investors’ debt ceiling concerns dwindle

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U.S. Stock futures rose on Wednesday night, as the Dow Jones Industrial Average recovered its 459-point deficit from earlier in today’s day. Investor concerns regarding a debt ceiling compromise were eased.

Dow Jones Industrial Average futures rose 0.2% or 81 points. S&P 500 and Nasdaq 100 futures climbed 0.3%.

Regular trading saw the Dow rise 102.32 to 34.416.99.99. This reclaimed a 459 point loss earlier in the session. The S&P advanced 0.4%, after falling as low as 1.27%. After dropping by as much as 1.2%, the Nasdaq Composite gained 0.5%.

According to Chris Hussey, Goldman Sachs, October was volatile due to uncertainty over U.S. fiscal policy, monetary policy, and supply chain restrictions. However, economic data indicates that the economy is already starting to recover from the summer slump caused by the Delta, Goldman Sachs said Wednesday in a note. Additionally, markets could be taking a cautious approach to the third quarter earnings period, which starts next week.

Mitch McConnell is the Senate Minority Leader. offered a short-term suspensionThe U.S. should raise its debt limit to avoid a default or economic crisis. This is contrary to what economists warn could lead. Janet Yellen (Treasury Secretary) warned on Tuesday that the U.S. should “fully expect” a recession if that happens

The dip in tech stocks was bought by investors, who took a tumble earlier in the week while reopening plays fell.

Paul Christopher, Head of Global Market Strategy at Wells Fargo Investment Institute said that Congress would attach a debt limit increase to tax and spending provisions as part of a budget reconciliation package.

“As deadlines draw near, without a deal on the debt ceiling being lifted, market volatility may increase, but we think the economic growth will eventually be the major influence over equity and bond markets through the next year.” he said.

ADP said private firms hired more people than anticipated last month, in spite of concerns about the delta variant. Private employment rose by 568,000 last month. That’s more than what economists from 425,000 had predicted.

Data-wise, the first jobless claims as well as consumer credit will be released on Thursday.

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