Following a possible agreement on raising the United States’ debt ceiling reached by the Biden administration and Republican lawmakers on Tuesday, stock futures increased.
The Nasdaq-100 futures rose 1.3% while the S&P 500 futures increased by 0.6%. The Dow Jones Industrial Average-related futures traded very similarly.
The deal between President Joe Biden and House Majority Leader Kevin McCarthy to raise the debt ceiling and prevent a default was struck over the weekend, and Congress is expected to vote on the legislation as early as Wednesday. A return to Capitol Hill early to work on the agreement has not been indicated by lawmakers. The bill accord needs to have the backing of both Republicans and Democrats to pass.
Source (CNBC)
