Wall Street stocks finish flat with sentiment weakened by Moody's downgrade
Mon May 19, 2025 6:16 PM
All three indexes started the session deeply in the red, the Dow and Nasdaq both down some 300 points out the gate, but then all began a slow ascent to break-even by close for the tech sector and another nice 3-digit gain for industrials. The early morning panic was due to Friday’s Moody’s downgrade of the U.S. credit rating from Aaa (the highest) to Aa1 (2nd highest) due to the $36 trillion in debt the federal government has now reached.
There is concern that the new U.S. tax bill currently being negotiated in the Congress and that won committee approval on Sunday will further increase the debt. The good news is that all three indexes closed in positive territory with the S&P having its sixth straight day of gains. Volume came in well above the 4-week average of 17.34 billion, closing at 19.41 billion.
DJ: 42,654.74 +331.99 NAS: 19,211.10
+98.78 S&P: 5,958.38
+41.45 5/16
DJ: 42,792.07 +137.33 NAS: 19,215.46
+4.36 S&P: 5,963.60
+5.22 5/19
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