McCarthy’s Debt Ceiling Comments Apply Further Weight

E-mini S&P 500 & DJIA futures move to fresh session lows, with NASDAQ 100 futures hovering just above their own overnight base (the contracts are 0.3-0.4% lower on the day). This comes after comments from House Speaker McCarthy removed some of the weekend optimism re: the debt ceiling debate, allowing the post-NY empire manufacturing survey downtick to extend. To recap: a CNN reporter noted that “Speaker McCarthy just offered this assessment. “It doesn't seem to me yet they want a deal, it just seems like they want to look like they are in a meeting but they aren't talking anything serious” … “McCarthy says they are still “far apart.” He said: “Seems like they want a default more than a deal.” McCarthy added they need a deal by “this weekend” in order “to have a timeline to be able to pass it in both houses.””