Dow Soars on Home Depot Earnings Surge and S&P Credit Rating Boost - Markets Rally

Wall Street kicks off with bullish momentum as corporate earnings and credit upgrades fuel investor confidence.

Home Depot's Stellar Performance

The home improvement giant smashed expectations, sending retail stocks soaring and proving that even in uncertain times, people still prioritize their castles.

Credit Rating Catalyst

S&P's upgraded U.S. credit outlook provided the institutional validation markets craved—because nothing says 'safe investment' like a rating agency's stamp of approval right before the next crisis hits.

Traders pile into equities while bond yields tighten, chasing returns in a system where printed optimism somehow still outperforms actual fundamentals.

S&P affirms U.S. credit rating

Stocks are mostly upbeat as major U.S. gauges hold NEAR their record highs. However, action was largely muted as ratings firm S&P Global Ratings provided an update to its credit rating for the United States. 

Although S&P notes tariffs are likely to help the U.S. fiscal health amid Trump’s tax cuts, the outlook remains that the credit rating for the U.S. is AA+. S&P Global has given this rating for the United States since 2011, having downgraded it from AAA at the time.

The U.S. has seen its perfect credit rating slip after top ratings firms downgraded it. In May 2025, top firm Moody’s lowered its rating for the country from ‘AAA’ to ‘Aa1’. At the time, Moody’s noted concerns around debt deficit and interest costs. Fitch Ratings also downgraded the U.S. from a triple-A rating in 2023.

The 10-year and 30-year Treasury yields dropped after the S&P Global’s report to hover around 4.32% and 4.91% respectively.

Elsewhere, the crypto market saw Bitcoin (BTC) bounce off lows of $114k.