A Calm Afternoon Where Cloud Stocks Do the Pushing

Right now the S&P 500 sits at 7,790.56, up 0.54%, and the Nasdaq's at 26,778.13, up 0.71%, with about an hour and fifty minutes left before the close. Compared to my last update, both indexes only crept up another tenth of a percent or so, which tells me this afternoon isn't throwing any surprises. July producer prices came in softer than expected, cooling off next month's rate-hike odds, but the market took it in stride like it already saw this coming — and that relief seems to be flowing into cloud names, while copper, mining stocks, and consumer discretionary are struggling to keep up. Compared to the Kospi's 3.56% jump back home yesterday, New York feels a lot more subdued today. My Alphabet position is still sitting at -7.4%, and honestly I'm just watching to see if this quiet mood holds all the way to the close.