US futures are indicating a higher open. European equity markets have opened mixed, following mostly lower Asian levels, with semiconductor and tech equipment stocks rallying in these markets following Nvidia’s positive outlook. US debt ceiling headlines leaning negative with two sides having not made meaningful progress towards a deal. While McCarthy is optimistic an agreement will be reached, markets now increasingly nervous with spread widening to 4% between T-bills maturing in early June and shorter-dated securities. Also some uncertainty around extent of additional tightening needed, even if there is pause in rates in June.
Companies Mentioned: NVIDIA (NASDAQ:NVDA), Tradeweb Markets, Illumina (NASDAQ:ILMN)