US Futures are higher on news that the Senate passed a 2018 budget resolution. With a 51-49 vote, the Senate approved a budget that will now have to be reconciled with the House’s version. The passage of the budget is viewed as a key step toward tax reform. Treasury yields are higher on the news as the FOMC has not accounted for tax reform in their current projections. At 10am, the market will get a reading on September home sales, which are expected to fall slightly to 5.3M units. European shares are higher, led by banks and materials stocks, on positive earnings results. Asian shares closed higher despite warnings on Thursday from a Chinese Central Governor’s warning of too much optimism leading to sharp declines in asset prices.