SPX: S&P 500 Breaks Six-Day Win Streak as Sentiment Sours on Rating Tweak, Quiet Week

Broad-based stock gauge snapped after six days of gains, but is still 20% higher since April 8 — the day of the post-tariff-announcement crash.

🔨 S&P 500 Cracks Under Pressure

• The S&P 500 index had no more gas left in the tank on Tuesday when it snapped its six-day positive run, finishing lower by 0.4%. The stock average may have trimmed some of the gains, but it’s still showing a pretty good score from its April lows — up 20% since the tariff-fueled crash wiped out trillions.
• Things have turned quiet this week, despite some volatility coming from a downgrade of the US credit rating by Moody’s. Prior to that, stocks were riding high on optimism around easing tariff jitters and cooling inflation.

🙏 Credit Rating Tweak Weighs

• Sentiment cooled slightly after the rating agency’s decision to trim the US credit rating to Aa1 from Aaa — a move that hasn’t sparked panic, but is keeping a lid on exuberance. In other words, tech stocks aren’t pumping, the dollar isn’t rallying, and traders are waiting for some clarity ahead.
• With borrowing costs already high and debt rollover pressures mounting, the downgrade has reintroduced a touch of macro caution. Besides the S&P 500, the Nasdaq also slipped 0.4% on Tuesday, snapping a three-day win run. The Dow Jones fell 0.3%.

🌱 Futures Waver Wednesday

• Early on Wednesday, futures contracts tied to the three major averages were treading water. Boring stuff. But it’s what the market may need right now — some time to take a step back and reassess things.
• S&P 500 futures were down 0.3% and so were those hooked up to the Nasdaq and the Dow Jones. It’s relatively quiet ahead with no economic news or earnings drops to stir up the sentiment. In other words, it’s time for technical traders to step up and show what they’re made of.