Wall Street shrugs off U.S. credit downgrade

With Canadian markets closed for Victoria Day, American stocks initially sold off on Monday after Moody’s downgraded the U.S.’s credit rating. Also, the White House stated that its original tariffs could return after the 90-day pause. However, the main indices climbed during the day until the S&P and Nasdaq finished a handful of points higher. The Dow gained 0.32%. The credit news pressured tech stocks, especially.

Tesla closed the session -2.25% and Palantir -2.46%. In contrast, beaten-down health names rebounded: UnitedHealth jumped 8.21% and Moderna 6.15%. Dollar General surged 4.95. The U.S. 10-year yield held around 4.449% as Bitcoin rose US$1,470 to US$105,575. The TSX reopens Tuesday.

🚗 Tesla Inc (TSLA-Q) -2.25%

💾 Palantir Technologies (PLTR-Q) -2.46%

👨‍⚕️ UnitedHealth Group Inc (UNH-N) +8.21%

💉 Moderna (MRNA-Q) +6.15%

🛒 Dollar General Corp. (DG-N) +4.95%