Moody’s debt downgrade, Trump tax bill, Nvidia: 3 Things
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Diverging Reports Breakdown
Stock market today: Dow, S&P 500, Nasdaq attempt comeback after Moody’s downgrades US credit rating
Moody’s cuts U.S. credit rating to AA from AAA. President Trump warns of more tariffs if he doesn’t get his way. Wall Street shrugs off the news, with the S&P 500 up 0.2%. The dollar is up 1.2% against the yen. The euro is down 0.3%. The pound is down 1.1% against U.K. currency. The dollar has risen 1.3% since the start of the year.
Source: Finance.yahoo.com | Read full article
Stock market today: Dow, S&P 500, Nasdaq attempt comeback after Moody’s downgrades US credit rating
The Dow Jones Industrial Average (^DJI) edged up 0.2%. The S&P 500 (^GSPC) was little changed, while the tech-heavy Nasdaq Composite (^IXIC) trimmed losses of more than 1% to drop below the flatline. Moody’s cut the US government’s long-term credit rating from AAA to AA1 late Friday, citing escalating deficits and the increasing burden of refinancing US debt. Longer-dated Treasury yields continued a recent climb, as the benchmark 10-year yield (^TNX) rose near the key 4.5% level.
Source: Finance.yahoo.com | Read full article
‘Sell America’ is back on after a massive debt warning
Moody’s downgraded America’s debt on Friday evening from its previously perfect AAA credit rating. The benchmark 10-year yield, which trades in opposite direction to its price, rose near 4.5%. The US dollar tumbled 0.6% against a basket of currencies. Meanwhile, gold, a traditional safe haven, rose 1.3% to $3,230 a troy ounce. The Dow was up by 120 points, or 0.3%. The broader S&P 500 was unchanged, and the tech-heavy Nasdaq was 0.1%Lower US stocks turned flat Monday afternoon after initially falling. But market analysts say Moody’S downgrade could send shockwaves through Wall Street again. The U.S. debt-to-GDP ratio was 92% in the second quarter of 2011. It is now 123%, according to the US Treasury. The Treasury Secretary Scott Bessent attempted to reassure market participants that the credit rating downgrade was built on outdated information.
Source: Cnn.com | Read full article
Wall St falls after Moody’s surprise downgrade; yields rise
Wall Street’s main indexes slipped on Monday and Treasury yields spiked. Moody’s surprise downgrade of the U.S. sovereign credit rating due to mounting debt sparked anxiety about the fiscal outlook. The S&P 500 registered its fifth straight day of gains on Friday, closing out the week with firm gains as markets took heart from a temporary tariff truce between the United States and China. The 10-year note rose 5 basis points to 4.49% and the 30-yearNote touched 4.96% on Monday. Most megacap and growth stocks recouped some of their losses around noon, though Tesla (TSLA) , opens new tab lagged with a 3.1% fall. Highly valued tech stocks were pressured as rising rates tend to discount the present value of future profits.
Source: Reuters.com | Read full article
Global Perspectives Summary
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Sources
- Stock market today: Dow, S&P 500, Nasdaq attempt comeback after Moody’s downgrades US credit rating
- Stock market today: Dow, S&P 500, Nasdaq attempt comeback after Moody’s downgrades US credit rating
- ‘Sell America’ is back on after a massive debt warning
- Wall St falls after Moody’s surprise downgrade; yields rise
Source: https://finance.yahoo.com/video/moodys-debt-downgrade-trump-tax-131340588.html