Pre-Market Pulse 20th May – Wall Street Shrugs as US Debt Warnings Mount
Stocks eked out a small gain overnight as retail investors shrugged off warnings from Ratings agency, Moodys, about the spiralling US Government debt.
Stocks eked out a small gain overnight as retail investors shrugged off warnings from Ratings agency, Moodys, about the spiralling US Government debt.
Stocks climbed Friday, notching a big weekly gain, after shrugging off an unexpected dip in consumer sentiment as ongoing optimism about the recent U.S.-China trade continues to support sentiment. However, rating agency, Moodys removed the US AAA rating after the bell sending futures lower
The S&P 500 rose for a fourth consecutive session, gaining 0.41% to close at 5,916.93, as easing U.S.-China trade tensions and falling Treasury yields lifted market sentiment. The Dow Jones Industrial Average advanced 271.69 points (+0.65%) to 42,322.75, while the Nasdaq Composite edged down 0.18% to 19,112.32 despite strong tech performance earlier in the week.
Stock squeezed out a small gain, led by tech, a day after turning positive for the year amid ongoing optimism surrounding the U.S.-China trade deal.
Stock closed slightly higher overnight as data showing inflation slowed in April supported bullish sentiment on risk just days after the U.S.-China trade deal agreement.
Stock market investors rejoiced overnight with the major indices soaring 3%+ after the White House announced an easing of escalated tariffs and agreeing to a 90 day “truce”, easing fears of prolonged trade war.