Iran talks optimism widens the New York rally

Right now Nasdaq's up 1.70% and the S&P 500's up 1.11%, and both have widened their gains since my last update. Hopes around Iran nuclear talks sent oil tumbling 6%, easing a lot of the market's nerves — though under that warmth, cloud names are running hot while chips and utilities lag behind. Stack that against yesterday's Kospi, which cratered more than 5%, and today's New York air feels like a completely different world. The won's also firmed up past 1,420 per dollar, so the backdrop's leaning friendly across the board. In my own book, Microsoft's still sitting on a 22%-plus paper gain, while Nvidia and Amazon are marginally in the red and Freeport-McMoRan's marginally in the green. Between now and the close, I'll be watching whether that gap between cloud strength and chip weakness keeps stretching.