S&P 500Indexes rose for the sixth straight session, closing just one step away from a bull market. Any pullback, driven by the recent reprieve in the tariff war, could constitute a buying opportunity, several strategists said.
NvidiaAs the focus of the market, the company released the latest technology, aiming to maintain the growth in demand for artificial intelligence computing power and ensure that its products remain at the core of the industry.
JPMorgan ChaseIt closed down 1% as Moody's downgraded the deposit ratings of some large banks, including the bank, citing the downgrade of the U.S. sovereign credit rating last Friday and the weakening ability of the government to support these banks.
United States SteelThe company closed up 3.2%, and Nippon Steel is reported to increase its investment commitment to U.S. steel, provided Trump approves the deal.
Moody's downgraded the U.S. credit rating from Aaa to Aa1 on Friday. The agency blamed successive governments and Congress for the widening budget deficit, and said there was no sign of narrowing at present; U.S. Treasury Secretary Bescent downplayed related concerns, saying that the Trump administration is determined to reduce federal spending and promote economic growth.
"Monday's price action answered the question, 'What if Moody's hosts a downgrade party and nobody is there,'" said BMO Capital Markets strategists Ian Lyngen and Vail Hartman. "Investors are clearly on Bescent's side".
Thomas Lee, an analyst at Fundstrat Global Advisors, sees the Moody's downgrade as "largely no big deal," while adding that he would "buy aggressively on the dip" if there were any signs of weakness in the stock market.
"Moody's cited what we already know is that the U.S. has a huge deficit, so this is not'surprising '," Lee said. "And we doubt any large fixed-income management company will be surprised. There is no incremental information here at all".
Morgan StanleyMichael Wilson said investors should buy U.S. stocks on dips if Friday's credit rating downgrade triggers a sell-off.
As of the close, the S&P 500 rose 0.1% to 5,963.6 points; The Dow Jones Industrial Average rose 0.3% to 42,792.07 points; The Nasdaq Composite Index was basically flat at 19,215.46 points; The Nasdaq 100 index rose 0.1% to 21,447.05 points; The Russell 2000 index fell 0.4% to 2,104.434.
