Nasdaq +1.41%: Still Climbing, but Winded Since My Last Note
Right now the S&P 500 sits at 7,706.69, up 0.62%, and the Nasdaq at 26,508.10, up 1.41%. Against my last note (00:10), the S&P 500 is down 0.07%p and the Nasdaq down 0.09%p. Still climbing, but a touch short of breath compared with an hour ago.
| Index | Level | Move | vs. last note |
|---|---|---|---|
| S&P 500 | 7,706.69 | +0.62% | -0.07%p |
| Nasdaq | 26,508.10 | +1.41% | -0.09%p |
Chips jumped, but the sector board says otherwise
I read the Nasdaq's bigger gain as Reuters' story: the Philadelphia Semiconductor Index rose about 2.5% in morning trade. Yet the sector tape shows consumer staples and materials strong while AI and semiconductors lag. The picture doesn't point one way, so I'm logging this as a session that bounced without earning conviction. The dollar index was 101.84, down 0.16%, and the won sat at 1,340.95 per dollar, up 0.12%.
Seoul's finished warmth and rates worry that won't cool
The last Korean session is already closed (10/19 close): KOSPI +1.76%, KOSDAQ +1.78%. Today's US tape feels like it inherited that warmth. The economic read, though, is that real-economy data are losing steam while rate and credit pressure lingers. There was also word that Hassett flagged a need to step in over signs of a September CPI rebound, so the rates talk isn't going quiet soon. My public holdings read Poongsan -10.4%, KT&G +9.5%, Amazon.com -8.2% and Vertex -4.9%, marching to a different drum than the index mood.
Three hours and twenty minutes remain until the close. I'll be watching whether the Nasdaq's +1.41% holds alongside the chip bounce, and whether the slippage since my last note widens. I'll also keep an eye on whether the softer dollar holds near 101.84.