Nasdaq holds, S&P 500 sags, and security names prop up the middle
Right now the S&P 500 sits at 7,649.19, down 0.19%, while the Nasdaq is at 26,049.93, up 0.16%. Against my last brief, the S&P 500 is up 0.07%p and the Nasdaq up 0.03%p. That's less a reversal than the floor being nudged up one notch, and the split between the two indexes is the face of today's tape.
| Index | Now | Change | vs. last brief |
|---|---|---|---|
| S&P 500 | 7,649.19 | -0.19% | +0.07%p |
| Nasdaq | 26,049.93 | +0.16% | +0.03%p |
A rough open after the AI selloff, yet security names grinned
New York opened lower on a sharp selloff in AI-linked stocks and a jump in oil. I read the Nasdaq's green as cybersecurity and cloud2 names doing the lifting, while copper/minerals and gold miners are weak enough to keep the S&P 500 in the red. The won is at 1,325.59 per dollar (+0.12%) and the dollar index at 101.61 (-0.17%), so currency isn't what's pressing on this market. U.S. Treasuries are also catching their breath after a violent run, so the rate squeeze has stepped back for the moment.
The finished Korean session stays exactly as it was
At the 10/23 close, the KOSPI was +0.30% and the KOSDAQ -1.62%. That is a settled record, not something moving now. Still, the KOSPI rebounding while the KOSDAQ was pressed feels like the same split I'm seeing in the U.S. indexes today. My disclosed holdings show Orion -8.3%, KB Financial -13.6%, Hyundai Rotem -26.1% and Celltrion +5.1% on paper, and a choppy day doesn't change that record.
There are 3 hours 20 minutes to the close. I'm watching whether the Nasdaq holds its +0.16%, and whether the strength in security and cloud spreads enough to fill the S&P 500's -0.19%. I'll also keep an eye on whether the Treasury pause and oil drag the mood back toward the AI selloff.