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 S&P 500 was down 0.3% in midday trading but still within 3.2% of its record. The Dow Jones Industrial Average was down 87 points, or 0.2%, as of 11:25 a.m. Eastern time, and the Nasdaq composite was 0.4% lower.

There are good reasons why markets took the latest U.S. credit rating downgrade on the chin, but that will offer cold comfort to investors warily eyeing the country's deteriorating fiscal health.

The stock market didn’t notice. The S&P 500 secured its sixth winning day in a row and the Dow added 137 points. Equity investors at this point seem numb to both fiscal calamity and shaky economic sentiment. Bond traders, meanwhile, responded differently.

Trump’s tariffs and the global trade war continue to affect markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

Moody's U.S. debt downgrade is raising concerns that investors could reevaluate their appetite for U.S. government bonds, with the potential for rising yields to put pressure on stocks that are trading at elevated valuations.

Consequently, Buffett has earned a reputation as one of the greatest investors in American history. Yet, he has struggled to find buying opportunities in recent years. Berkshire reported a record $348 billion in cash and U.S. Treasury bills on its balance sheet in the first quarter.

Wall Street experts share what they think will drive stock market gains for the second half of the year.