FX.co ★ US Futures Flat as Fiscal Concerns Weigh

US stock futures remained mostly steady on Friday as investors evaluated the potential impact of President Trump's newly enacted tax and spending measures on the already substantial fiscal deficit of the country. In Thursday’s regular trading session, the Dow Jones Industrial Average ended unchanged, the S&P 500 slipped by 0.04%, while the Nasdaq Composite saw an increase of 0.28%. The recent budget bill, which includes tax reductions and heightened defense expenditures, has sparked concerns over potentially exacerbating the US national debt. The Congressional Budget Office estimates the bill's expense to be nearly $4 trillion, intensifying fears of long-term fiscal instability. These apprehensions were further compounded by Moody’s recent decision to downgrade the US credit rating from Aaa to Aa1, citing rising deficits and the increasing cost of national debt servicing. On Thursday, 7 out of the 11 S&P 500 sectors closed lower, with notable declines in the utilities, health, and energy sectors. Conversely, stocks in consumer discretionary, communication services, and technology sectors performed strongly.