U.S. democrats and Senate Republican Leader Mitch McConnell formulating a deal to raise U.S. debt ceiling enough to support Treasury until December this year. In a talk with President Joe Biden, JP Morgan CEO Jamie Dimon remarked U.S. should get rid of debt ceiling instead of raising. Although this brings a temporary solution rather than resolving the crisis, global equity markets reacted sharply erasing losses to certain degree. S&P 500 and Nasdaq 100 erased loss last night and oil futures on a loosing streak. Asian market as well rebounded from yesterday\u2019s loss. However, the volatility in the market yet not at its peak. The Fear and Greed Index is at 27 (blow 50 is fear) with American Association of Individual Investors (AAII) shows that 40.7% investors have bearish outlook. Yield jumped amid investors pricing in inflation over energy cost. Rising yield could further mean lower equity valuation awaits. Crude oil prices came down to $70 level retreating from seven year high after U.S. Energy Information Administration (EIA) reported US crude inventories increased by 2.3 million barrels. Natural gas also cooled down by 2.36% after Vladimir Putin said record amount of natural gas could be exported to Europe this year in an effort to mitigate energy crisis in the continent. This brings skepticism over $100 oil price anticipated earlier. Although natural gas price being at the higher end boosted demand for the oil, frequent market interventions are expected to follow to reduce volatile oil price and thereby taming inflation globally. Financial times earlier reported U.S. is considering release of emergency oil reserve. With energy crisis easing, traders eyes Friday\u2019s non-farm payroll numbers with indication below 200,000 might lead the Federal Reserve to push back paring asset purchases in November.