SPX: S&P 500 Claws Back Big Early Loss to Log Sixth Straight Winning Session

What credit downgrade? The broad-based S&P 500 powered through another bumpy ride, shrugging off Moody’s slap and erasing a 1% loss to come out in the green.

📈 Streak Alive: S&P 500 Eats the Dip

• The S&P 500 index roared back after a 1% loss threatened to break its five-day winning streak. But no — the benchmark just reminded everyone why it’s broad-based and why it’s Wall Street’s favorite stock gauge. That 1% drop was gobbled up — the S&P 500 ate and left no crumbles turning that decline into a 0.1% gain.
• And there you have it — the streak was saved and extended to six days. Now, it’s up to market participants to figure out how to drive the next leg up after they powered through a credit rating situation.

💥 Credit Downgrade? Blink and You Missed It

• Moody’s on Monday rattled markets when it cut the US credit rating to Aa1 from Aaa — a move prompted by fiscal concerns and the cost of rolling over debt in a high-interest-rate environment. Wall Street took the slap, flinched for a minute, then marched on.
• The Nasdaq Composite index was also a winner that day — up a tiny 0.02%, or less than 5 points. The Dow Jones Industrial Average advanced 0.3%, leading the index pack.

🌍 Tariff Truce Keeps Optimism Alive

• Broadly, there’s a newfound calm on Wall Street now that the 90-day truce between China and the US has slowly settled in. That agreement to slash tariffs (from 145% to 30% on US imports and 125% to 10% on China’s side) revived optimism about global trade.
• But is it enough to sustain the upside swing for the foreseeable future? Not much is on the economic calendar for the rest of the month, allowing traders and investors to take stock (pun intended) and plan their early-summer moves. June is right around the corner and just like that we’re nearing the end of the second quarter (for those who celebrate).