Investor Sentiment Drops After Moody's Downgrade, Fueling Premarket Losses for US Equity Futures

MT Newswires Live
19 May

US equity futures were falling ahead of Monday's opening bell following the US credit downgrade by Moody's.

Dow Jones Industrial Average futures were down 0.6%, S&P 500 futures retreated 1.1%, and Nasdaq futures were 1.6% lower.

Moody's on Friday lowered the country's credit rating to Aa1 from Aaa and changed its outlook to stable from negative.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.5% at $65.11 per barrel and US West Texas Intermediate crude 0.4% lower at $61.70 per barrel.

The index of leading economic indicators, slated for 10 am ET, is seen falling by 0.7% for April to match March's decline, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.7% lower, Hong Kong's Hang Seng declined 0.1%, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was flat in Europe's early afternoon session.

In equities, Novavax (NVAX) shares were up 19% pre-bell after the company said its COVID-19 vaccine has been cleared for use by the US Food and Drug Administration in limited cases. Ryanair (RYAAY) stock was up 5.5% after the company reported higher fiscal 2025 revenue.

On the losing side, Gilat Satellite Networks (GILT) shares were down 4.8% after the company reported lower Q1 adjusted earnings.

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