Welcome to Closing Bell. I'm Mike Santoli in for Scott Wapner. This make-a-break hour begins with the tenacious bid that continues to support the stock market.

After an opening drop of about 1% in the S&P 500, that was as a reflex response to Moody's late Friday downgrade of U.S. Treasury debt.

Dip buyers stepped in and have walked the index back just about to the flat line, as you see right

there.

There you have it.

It's flat.

As Treasury yields retreated from morning highs as well, those also were basically last week's

highs, the 30-year did click above 5%.

The 10 year was above 4.5 again, they have come in, so buyers also into the Treasury market.

The scorecard with 60 minutes left in regulation, has the Dow in the green. It is leading

all the major indexes. You see it up there about a quarter of a percent, thanks in large part

to a bounce in United Healthcare shares. That, of course, had an awful week. Last week was a big

drag on the Dow, up 7% as we speak.

The NASDAQ has dug out of a pretty steep morning hole as well, about a percent and a half loss at the lows,

and you see it just about again up toward the flatline.

Microsoft, the biggest upside contributor, both of the NASDAQ and the S&P 500 on the day. The overall action continues a pattern

of intraday strength from last week, and it all suggests big institutions still rushing to rebuild

market exposure following a powerful 23% S&P 500 rebound from the early April tariff tantrum loads.

That takes us to our talk of the tape.

Is the big money correct to set aside these daunting fiscal issues

and add risk to their portfolios as a federal budget is tasked out?

And just how much is now being priced into stocks

...