Global Markets Rise on US Debt Deal Optimism

American equity futures rose, while European stocks posted modest gains amid optimism that politicians are nearing a debt-ceiling deal to avert a catastrophic US default. The dollar, which has benefited from angst around the statutory borrowing limit, was steady. Assuming lawmakers seal the deal before the US government runs out of cash in about a week, traders still have much to contend with — from the prospect of another interest-rate hike from the Federal Reserve to a likely deluge of bond issuance from the US Treasury Department.