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U.S. stock index futures held steady in early trading Friday, following a volatile week dominated by fiscal concerns and political wrangling in Washington.<\/p>\n\n\n\n
At 05:55 ET (09:55 GMT), Dow Jones Futures edged down 10 points (-0.1%)<\/strong>, while S&P 500 Futures inched up 3 points (+0.1%)<\/strong>, and Nasdaq 100 Futures gained 15 points (+0.1%)<\/strong>.<\/p>\n\n\n\n Despite Friday\u2019s calm open, all three major indices are poised to end the week with losses of 1.5% to 2%<\/strong>, reflecting growing investor unease over the U.S. debt outlook and monetary policy uncertainty.<\/p>\n\n\n\n Markets remained rattled after the House of Representatives narrowly approved President Donald Trump\u2019s tax cut and spending bill<\/strong> on Thursday. While supporters tout the bill as a boost for middle-class Americans and business competitiveness, the Congressional Budget Office (CBO)<\/strong> warned the legislation could add $3.8 trillion to the federal debt<\/strong> over the next decade.<\/p>\n\n\n\n The U.S. national debt currently stands at $36.2 trillion<\/strong>, and credit ratings agency Moody\u2019s downgraded the U.S. sovereign rating<\/strong> last week over concerns that fiscal discipline was weakening. Treasury markets reflected these anxieties, with yields climbing this week<\/strong> and a weak auction of 20-year bonds<\/strong> underscoring reduced investor appetite for long-term government debt.<\/p>\n\n\n\n The bill now moves to the Senate, where further deliberations are expected.<\/p>\n\n\n\n Amid a complex macroeconomic landscape, investors are turning their attention to new home sales and building permits data<\/strong>, due later Friday, for insights into the health of the U.S. housing sector\u2014a key component of consumer confidence and broader economic stability.<\/p>\n\n\n\n Adding to the cautious optimism, Federal Reserve Governor Christopher Waller<\/strong> said Thursday he still sees a potential for rate cuts later this year<\/strong>, providing some reassurance to markets hoping for looser monetary policy.<\/p>\n\n\n\n In a related legal development, the U.S. Supreme Court ruled that the Federal Reserve operates as a unique entity<\/strong>, effectively blocking any near-term attempt by President Trump to remove Fed Chair Jerome Powell<\/strong>, who has faced pressure from the White House to cut rates.<\/p>\n\n\n\n In corporate news, Tesla (NASDAQ: TSLA)<\/strong> may come under pressure following a report from JATO Dynamics<\/strong> showing that Chinese EV manufacturer BYD<\/strong> outsold Tesla in Europe for the first time. BYD registered 7,231 vehicles in April<\/strong>, narrowly beating Tesla\u2019s 7,165 registrations<\/strong>, highlighting intensifying competition in the world\u2019s fastest-growing EV market.<\/p>\n\n\n\n Oil prices remained under pressure, with both Brent<\/strong> and WTI futures down 0.1%<\/strong> in early trading, at $64.39<\/strong> and $61.16<\/strong> per barrel, respectively.<\/p>\n\n\n\n Both benchmarks are down about 2% for the week<\/strong>, snapping a two-week winning streak as oversupply concerns reemerged<\/strong>.<\/p>\n\n\n\n OPEC+ is reportedly considering a production increase of 411,000 barrels per day in July<\/strong>, according to Bloomberg<\/strong>, with discussions expected at the June 1 meeting<\/strong>. At the same time, attention is also turning to U.S.-Iran nuclear talks in Rome<\/strong>, where any breakthrough could lead to more Iranian oil returning to global markets.<\/p>\n","protected":false},"excerpt":{"rendered":" U.S. stock index futures held steady in early trading Friday, following a volatile week dominated by fiscal concerns and political wrangling in Washington. At 05:55 ET (09:55 GMT), Dow Jones Futures edged down 10 points (-0.1%), while S&P 500 Futures inched up 3 points (+0.1%), and Nasdaq 100 Futures gained 15 points (+0.1%). Despite Friday\u2019s …<\/p>\n","protected":false},"author":9,"featured_media":31017,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,37,39,36],"tags":[7722,11257,6887,6862],"class_list":["post-114782","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-global-stock-markets","category-market-updates","tag-job-growth","tag-nfp-report","tag-unemployment","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=114782"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114782\/revisions"}],"predecessor-version":[{"id":114783,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114782\/revisions\/114783"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31017"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=114782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=114782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=114782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Tax Bill Approval Sparks Fiscal Jitters<\/h3>\n\n\n\n
Housing Data in Focus<\/h3>\n\n\n\n
Tesla Slips Behind BYD in Europe<\/h3>\n\n\n\n
Crude on Track for Weekly Decline<\/h3>\n\n\n\n