Cloud carried the day, chips took a breather

The S&P 500 climbed 1.47% and the Nasdaq popped 2.14% today, and the gap between the two tells you where the action was — cloud names were doing the heavy lifting. Semiconductors lost some steam after word got around that the GPUs going into the national AI computing center aren't locked in as B200 after all, and utilities slumped right alongside them. I don't read today as a turn in the trend though — exports and employment keep propping up the real economy, and currency and commodity conditions are still friendly, so this feels more like a continuation of a gentle uptrend than a one-off pop. That's basically why I leaned into the cloud strength and added GOOGL today. I'll let the chip side sit until the GPU story gets sorted out.