The new week is starting on a tentative note as traders continue to eye developments surrounding the U.S. government debt ceiling deadline.
U.S. stock futures are holding just shy of 2023 highs as government debt-ceiling wrangling continues.
How are stock-index futures trading On Friday, the Dow Jones Industrial Average DJIA fell 109 points, or 0.33%, to 33427, the S&P 500 SPX declined 6 points, or 0.14%, to 4192, and the Nasdaq Composite COMP dropped 31 points, or 0.24%, to 12658.“Broader market sentiment will likely tango to the mood music in Washington as the debt ceiling discussion evolves.
While bulls welcome the S&P 500’s SPX move to the top of — and on Friday, briefly through — its multi-month range, some analysts remain wary about technical factors that they believe point to trouble ahead for stocks. Meanwhile, the Nasdaq is up around 20% so far in 2023, he said, just filled a gap from August ’22 and is “showing signs of upside exhaustion.”
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