Risk appetite picks up, and the euro moves to a slight gain on the day, against the dollar after the White House said both sides of the aisle agree on $1.5 trillion in cuts to spending.

That increases the likelihood of raising the US debt ceiling. Earlier, Democratic lawmakers voiced modest support for a backup proposal from Senate Minority Leader Mitch McConnell (R., Ky.) that would allow the government to avoid defaulting on its debt.

The euro is now up roughly 0.12% on the session, at $1.4175.

The Dow is down 10, the S&P down 6, but the Nasdaq is off 29.

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