traders on the floor of the nyse june 1 2023 stock futures inched higher in overnight trading as traders looked ahead to fridays may jobs report futures tied to the dow jones industrial average gained 38 points or 011 while sp 500 futures added 009 nasdaq100 futures rose 014 lululemon shares popped 13 after the bell on strong results and a guidance boost while mongodb surged 21 on a blowout forecast stocks kicked off the new trading month on a positive note the sp 500 and nasdaq composite gained 099 and 128 respectively to settle at their highest levels since august the dow jones industrial average added 1533 points or 047 overarching debt ceiling concerns eased on thursday the house passed the fiscal responsibility act in a 314117 vote late wednesday just days before the june 5 deadline set by us treasury secretary janet yellen fear that the may us would default on its obligations if lawmakers failed to reach an agreement rattled some investors earlier in the week i do think markets were pretty savvy this time they kind of priced in some sort of resolution but because were taking a tail risk off the table said mona mahajan senior investment strategist at edward jones were getting a bit of relief here today investors may also be finding some solace in the likelihood of very limited economic impact from the recent debt ceiling fiasco and a cap on spending that appears unlikely to weigh on economic growth in a meaningful way she added with much of the debt ceiling drama in the rearview mirror investor attention pivots toward fridays jobs report recent data paints a strong labor market despite the federal reserves aggressive rate hiking plan with more than 80 of the prints since january 2022 surpassing estimates economists surveyed by dow jones expect that growth eased in may over the previous month with 190000 jobs added versus the 253000 gained in april that would mark the lowest monthly gain since december 2020 as the week draws to a close both the sp 500 and nasdaq are on track to finish with modest gains of 037 and 097 the dow sits 01 lower for the week as of thursdays close