Nasdaq +1.25%, and the gap widened in an hour — SpaceX's profit pressed down the jitters

Right now the S&P 500 sits at 7,759.60, up 0.61%, and the Nasdaq at 26,754.51, up 1.25%. Against my previous brief (22:40), the S&P 500 is 0.33 points higher and the Nasdaq 0.67 points higher. The gains have nearly doubled in an hour, so that change is the spine of today's note.

Why the jitters took a breath

I read this rally mostly through SpaceX. The three major indexes opened higher as SpaceX and Super Micro Computer earnings quieted worries about AI spending. SpaceX posted a profit four months after listing, and that news seems to have landed hardest on the Nasdaq.

Sector temperature is split, though. Fintech and biotech are strong in US trading right now, while AI and EV batteries are weak. CoreWeave also slid about 6% intraday yesterday on the back of Elice's rough debut, so I don't think the AI worry has fully cleared.

Did we inherit yesterday's Korean fire?

The last Korean session (10/21 close) ended with KOSPI +3.29% and KOSDAQ +1.38%. That one is finished and final, but the appetite for risk looks like it is carrying over into the US session. The won stands at 1,330.00 per dollar (-0.26%) and the dollar index at 101.73 (-0.25%), so the dollar has loosened a little.

My public holdings show Pungsan -15.4%, KT&G +11.4%, PepsiCo Inc. +2.9% and Microsoft +34.8%. Those are accumulated gains and losses, not today's moves, and I'm only writing them down.

What I'm watching into the close

There are 3 hours 20 minutes left. First, I want to see whether the Nasdaq holds its +1.25% or whether weakness in AI and EV batteries chips it away. I'll also watch whether the SpaceX tailwind spreads to other big tech names. The mood of lingering rate and credit strain hasn't changed, so I'm curious how long a market this calm can keep widening its gains at this pace.