Dow Futures Edge Up With Debt Ceiling Eye

As investors await comments from Federal Reserve Chairman Jerome Powell that may shed light on the interest rate path, as well as any updates on negotiations to raise the debt ceiling.

The future is high. Contracts linked to the S&P 500 and Dow rose about 0.3%, while Nasdaq-100 futures were flat. The S&P 500 hit its highest close since August after Speaker Kevin McCarthy said on Thursday that the House of Representatives could vote on a debt ceiling deal next week.

Deere’s stock rallied premarket after raising its profit outlook on Friday. Shares of Foot Locker fell 25% after the retailer cut its outlook for the year amid falling sales.

Treasury yield volatility. The yield on the 10-year note was at 3.699%, versus 3.647% late Thursday. The yield on the one-month US Treasury bill, hit hard by debt ceiling concerns, fell to 5.335% from a recent high of around 5.6%.

The price of the goods was found. Brent crude, the global benchmark, rose 1.9% to $77.34 a barrel. Wholesale gas prices in northwest Europe rose, but remained at a two-year low.

Foreign stocks mostly rose. The pan-continental Stoxx Europe 600 rose nearly 0.8%, while Germany’s DAX index was on track for a new record close.

Japan’s Nikkei 225 rose 0.8% was its highest finish since August 1990. Hong Kong’s Hang Seng fell 1.4% on Thursday as Asian investors were caught off guard by selling Alibaba shares in the United States.

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