Moody's, Dow Jones Industrial Average and Stocks
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Investors will get the first chance to react to Moody’s downgrade of the U.S. credit rating late Friday over rising government debt and they’ll also look for more progress from President Trump on trade deals as the week kicks off.
Moody's also cited House Republicans' "One, Big, Beautiful Bill," which is attempting to make temporary tax cuts established in the 2017 Tax Cuts and Jobs Act permanent, along with new tax cuts as well. Moody's estimates an extension would result in an additional $4 trillion to fiscal deficit, excluding interest payments, over the next decade.
U.S. stocks finished near the unchanged mark on Monday with market sentiment weakened by the downgrade of the federal government's perfect sovereign credit rating owing to its huge debt profile.
This was the stock's second consecutive day of losses.
US stocks managed to eke out gains on Monday as bond yields eased off bigger gains and Wall Street largely shrugged off Moody's downgrade of the US credit rating. Meanwhile, investors digested developments in President Trump's tariff salvos.
The tumult in US markets yesterday was led by the bond market, where yields on 30-year Treasuries came close to a two-decade high amid concerns about President Trump’s tax-cut plans. The worry is that the proposals,
15hon MSN
The S&P 500 recently flashed a technical sell signal, Bank of America said, which can suggest a near-term drop in stock prices.
U.S. stocks erased most of their early losses, shaking off Moody's downgrade of the U.S. credit rating, to end higher. Moodys cut its credit rating a notch to Aa1 from Aaa on May 16 due to likely ...
For a minute there, it looked like the “Sell America” trade was poised to make a comeback on Monday after Moody’s decided to strip the U.S. of its top-tier credit rating late Friday.