By Shalini Nagarajan
Global stocks rose on Thursday (click here) after progress in talks between lawmakers on the US debt ceiling helped improve risk sentiment, while bitcoin continued to trade around five-month highs close to $55,000.
Futures on the Dow Jones rose 0.4%, while those on the S&P 500 rose 0.6% and the Nasdaq rose 1% as of 4:40 a.m. ET, suggesting a stronger start to trading later in the day.
Both parties made some headway Wednesday after Senate Minority Leader Mitch McConnell said he was willing to offer a short-term debt ceiling extension until December to stave off catastrophic financial repercussions.
This means President Joe Biden and Congressional Democrats would be able to finish their fiscal spending package, of between $1.9 trillion to $2 trillion, and include a further increase to the borrowing limit into one large reconciliation package near year-end, Deutsche Bank strategists said....
