From Nasdaq: 2025-05-19 12:36:00

Stock indexes are trading mixed today, with the S&P 500 down -0.11%, Dow Jones up +0.19%, and Nasdaq 100 down -0.31%. Moody’s downgraded US credit rating from Aaa to Aa1, citing a ballooning budget deficit. US public debt has risen to 100% of GDP. Expect focus on trade deals and economic data this week.

The chance of a -25 bp rate cut at the next FOMC meeting is 9%. Q1 earnings season shows 77% of S&P 500 companies beat estimates, with earnings growth at +13.1%. Full-year 2025 profit forecast for S&P 500 is +9.4%. Overseas markets are mostly lower. Interest rates are down -20 ticks for T-notes.

ECB President Lagarde cites the dollar’s decline due to uncertainty in US policies. Swaps predict a 91% chance of a -25 bp rate cut by the ECB. Tech stocks like Tesla and Apple are down. Chip stocks are sliding. Reddit and NuScale Power are down, while gold mining stocks and health insurance stocks are up. Wells Fargo Securities upgrades RxSight, while Morgan Stanley raises price target for Take-Two Interactive Software.

Earnings reports for 5/19 include companies like 8×8 Inc and Target Hospitality Corp. The author does not hold positions in mentioned securities. The views expressed are not necessarily those of Nasdaq, Inc.



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