Futures moderately higher
S&P 500 futures are up 12 points ahead of the cash open. A rise in that range would narrowly break yesterday’s record high.
Investors are also watching what is happening on the $3.5 trillion reconciliation bill that’s now on the floor in the Senate. Senator Manchin said he had ‘serious concerns’ with the price tag. For me, that sounds like he’s open to a deal where it’s watered down a bit. Ultimately I think it gets over the finish line but whether it’s $3.5T or $1T is a big difference.