Traders Keep Eye On Debt Ceiling Talks

(MENAFN- Traders Keep Eye on Debt Ceiling Talks


Stock futures rose slightly Friday as investors kept an eye on Washington for signs of progress on debt ceiling negotiations.
Futures for the Dow Jones Industrials advanced 52 points, or 0.2%, at 32,858.
Futures for the S&P 500 added 7.75 points, or 0.2% to 4,167.50.
Futures for the nasdaq Composite jumped 45.25 points, or 0.3%, to 14,021.75.
House Speaker Kevin McCarthy left the Capitol Thursday night saying a deal had not been reached yet. However, it's been reported that the White House and McCarthy are close to reaching an agreement that would raise the U.S. debt ceiling for two years.
Treasury Secretary Janet Yellen has warned that the U.S. could default on its debt as soon as June 1 if the debt ceiling is not raised.
The corporate earnings season is drawing to a close, but a handful of stocks were moving in response to their reports after the bell. Retailer Gap soared 12% and semiconductor stock Marvell Technology rose more than 15%, while Ulta Beauty tumbled 8%.
Investors will watch Friday for a crop of new economic data, with specific attention on personal consumer expenditures given its association with the path of inflation. Data on personal income, consumer spending and sentiment and durable goods is also due in the morning.
In Japan, the Nikkei 225 gained 0.4% Friday, while markets in Hong Kong were closed for holiday.
Oil prices took on 71 cents to $72.54 U.S. a barrel.
Gold prices shone brighter $9.60 to $1,953.30 U.S. an ounce.


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