After a U.S. debt downgrade by Moody's, stock markets opened lower with all major indices dropping slightly. Deutsche Bank's assessment highlighted ongoing challenges in the U.S. economy, referring to a scenario described as 'death by a thousand cuts.' However, there is a glimmer of hope as the S&P 500 could achieve a seven-day winning streak if it rebounds. Tesla's stock performed well amidst the broader downturn, while Home Depot chose to absorb costs rather than pass them on to consumers, contrasting with Walmart's approach.
Deutsche Bank's Jim Reid noted that the U.S. economy is facing a 'death by a thousand cuts,' signaling ongoing fiscal struggles despite temporary market rallies.
Despite a U.S. debt downgrade, the S&P 500 could achieve its seventh straight winning session if it successfully rebounds from current losses.
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