Market Snapshot: U.S. stock futures extend rally on debt-ceiling hopes

by | May 18, 2023 | Stock Market

U.S. stock futures rose on Thursday as traders continued to display confidence a debt-ceiling deal can be reached.How are stock-index futures trading
S&P 500 futures
rose 9 points, or 0.2%, to 4180

Dow Jones Industrial Average futures
added 62 points, or 0.2%, to 33540

Nasdaq 100 futures
gained 29 points, or 0.2%, to 13672

On Wednesday, the Dow Jones Industrial Average
rose 409 points, or 1.24%, to 33421, the S&P 500
increased 49 points, or 1.19%, to 4159, and the Nasdaq Composite
gained 158 points, or 1.28%, to 12501.

What’s driving markets Futures point to Wall Street on Thursday extending its latest rally. The S&P 500 rose 1.2% on Wednesday amid signs of easing stress in the regional banking sector and hopes the U.S. government can reach a debt-ceiling deal. A better-than-expected first quarter earnings season and indications from the Federal Reserve that it has paused its rate-hiking cycle after inflation last month fell to a two-year low have also helped support stocks of late. However, such positive news has still not been enough to push the S&P 500, the U.S. equity benchmark, to fresh highs for the year, with investors still wary that some data suggest an …

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