US Stock Market Highlights: The S&P 500 eked out a modest gain on Monday (May 19) as easing Treasury yields helped investors look past Moody’s downgrade of the US credit rating. The benchmark index rose 0.09% to close at 5,963.60, while the Nasdaq Composite was nearly flat, edging up 0.02% to 19,215.46. The Dow Jones Industrial Average advanced 137.33 points, or 0.32%, ending at 42,792.07, boosted by an 8% rebound in UnitedHealth following recent heavy losses.
US Stock Market Highlights: The S&P 500 eked out a modest gain on Monday (May 19) as easing Treasury yields helped investors look past Moody’s downgrade of the US credit rating. The benchmark index rose 0.09% to close at 5,963.60, while the Nasdaq Composite was nearly flat, edging up 0.02% to 19,215.46. The Dow Jones Industrial Average advanced 137.33 points, or 0.32%, ending at 42,792.07, boosted by an 8% rebound in UnitedHealth following recent heavy losses. Treasury yields initially surged after Moody’s downgraded the US credit rating by one notch, from Aaa to Aa1, citing the government’s growing fiscal deficit and the risks of refinancing debt amid elevated interest rates. The move brings Moody’s rating in line with other major credit agencies.
