Debt-Limit Agreement Provides Relief with a Hint of Caution: Markets Wrap

American equity futures posted modest gains amid cautious optimism the US will avert a catastrophic default after the weekend’s tentative debt-ceiling deal. European stocks wavered in muted holiday-affected trading.

Contracts on the S&P 500 and Nasdaq 100 were up about 0.3% each, with cash markets closed for Memorial Day. The dollar, which has benefited from angst around the statutory borrowing limit, held Friday’s decline while Treasury futures linked to the 10- to 30-year part of the US government bond market rallied on light volume.

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