Wall Street Catches Its Breath on the Inflation Rally

Right now the S&P500 is up 0.48% and the Nasdaq up 0.63% — still green, but the pace has eased a bit since my check-in an hour ago. Yesterday's soft consumer price reading, followed by an equally soft wholesale price number, sent bond prices jumping and pushed bets on a September rate hold up near 70%, and that tailwind is still doing the heavy lifting — cloud names are leading the tape while copper/minerals and discretionary names lag. A day earlier, Kospi rode the same New York semiconductor optimism to a +3.56% close with Kosdaq adding +0.29%, but that's already a wrapped-up session — today's US market just feels like it's quietly carrying that same warmth forward. My book sits at Eaton +0.3%, Vertex -0.9%, ConocoPhillips -1.8%, and Microsoft holding a +25.1% unrealized gain — the big picture hasn't moved. With about three and a half hours left, I'm watching whether this inflation-relief mood holds up and cloud strength keeps carrying the tape.