U.S. stocks closed higher after an unsurprising US credit rating downgrade. Treasury yields rise. S&P 500 extends winning streak to six days.

The Moody's announcement follows similar actions from Fitch and S&P in recent years and could result in higher borrowing costs.

In a separate interview on Fox Business Network’s “Mornings with Maria” on Monday, Hassett called U.S. debt “the safest bet on Earth,” but similarly said that the new rating is “backward looking” and is “penalizing us for all the reckless spending of the Biden administration” — all while predicting an economic “liftoff.”

(Reuters) -U.S. stock index futures were marginally lower on Tuesday as investors awaited commentary from Federal Reserve officials through the day to gauge the central bank's policy stance after the latest downgrade of the United States' credit rating.

Investors will be watching Home Depot (HD) earnings on Tuesday for signs of consumers pushing off home renovation projects due to tariffs and challenges in the housing market. Wall Street expects the home improvement retailer's revenue grew 7.

White House National Economic Council Director Kevin Hassett criticized Moody’s Ratings over its decision to lower the US credit rating, calling the move backward-looking and saying the Trump administration is committed to lowering federal spending.

Moody's downgrade of the U.S. sovereign credit rating late Friday appeared to have a modest impact on corporate bond market activity on Monday, as spreads widened slightly and new bond sales started the week softer than expected.