Futures Up in Hopes of Debt Ceiling Deal

"Hope is not a tactic."

U.S. Stock Market Pre-Market

U.S. stock futures were lower in early morning trading on Monday but since have recovered, as investors continued to monitor the ongoing war in Ukraine, the potential for a global recession, and the on going concerns about the US Debt Ceiling.

European Stocks

European stocks closed lower on Friday, as investors continued to monitor the ongoing war in Ukraine and the potential for a global recession.

• The pan-European Stoxx 600 index fell 1.5%.

• The German DAX index fell 1.8%.

• The French CAC 40 index fell 1.7%.

• The British FTSE 100 index fell 1.4%.

U.S. Debt Ceiling

This video sums up how how the US government run our present financial system, much less the whole system.

The Treasury Department said that it has $12.6 trillion in cash and available credit available to finance the government through May 18. After that, the department said it will be unable to meet all of its obligations and will have to prioritize payments.

The debt ceiling is the limit on the amount of money that the U.S. government can borrow. Congress must raise the debt ceiling in order to avoid a default.

The last time the debt ceiling was raised was in October 2021. The current debt ceiling is $28.9 trillion.

The U.S. government is currently running a budget deficit of about $1 trillion per year. The debt ceiling is a controversial issue, with Republicans and Democrats often at odds over how to raise it.

Republicans have said that they will not vote to raise the debt ceiling unless Democrats agree to cut spending or reform entitlement programs. Democrats have said that they will not cut spending or reform entitlement programs without Republican support.

The debt ceiling is a major issue that could lead to a government shutdown or a default. Investors will be watching closely to see how Congress handles the debt ceiling issue.

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