U.S. Stocks Show Resilience Amid Moody's Credit Rating Downgrade

U.S. stocks managed to hold steady on Monday, despite Moody's recent downgrade of the federal government's sovereign credit rating. The downgrade, which brought the rating from 'Aaa' to 'Aa1', was prompted by the government's substantial $36 trillion debt.

Investors reacted modestly, with the S&P 500 rebounding from earlier losses to remain near unchanged, marking its sixth consecutive session of gains. Market strategists voiced that concerns over the downgrade may be overstated, though reactions were expected given the announcement's timing.

The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all recorded gains amidst mixed performances across S&P sectors, led by healthcare and consumer staples. Energy sectors, however, faced declines, while companies like TXNM Energy and Novavax experienced significant share price increases following key developments.

(With inputs from agencies.)