Asian stocks are likely to be boosted on Monday by the prospect that U.S. lawmakers will reach a deal to avert a debt default, thus improving the appetite for riskier assets.
U.S. stock futures jumped and the dollar rebounded in a sign of relief that progress was being made on a deal to cut spending and raise the debt ceiling was that would allow the country to continue to borrow money.
Markets were anticipating good news with S&P 500 futures up around 1.2 percent and gold , which has reached new heights during the stalemate, easing 0.7 percent.
However, caution remained with House Democratic Leader Nancy Pelosi saying that not all Democrats might be able to support the mooted deal, which is reported to include $3 trillion in cuts and a lift in the debt ceiling.
U.S. stock futures jumped and the dollar rebounded in a sign of relief that progress was being made on a deal to cut spending and raise the debt ceiling was that would allow the country to continue to borrow money.
Markets were anticipating good news with S&P 500 futures up around 1.2 percent and gold , which has reached new heights during the stalemate, easing 0.7 percent.
However, caution remained with House Democratic Leader Nancy Pelosi saying that not all Democrats might be able to support the mooted deal, which is reported to include $3 trillion in cuts and a lift in the debt ceiling.
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