Shaking Off the PCE Shock, Indexes Tread Water

Right now the S&P 500 sits at 7,681.96 (+0.06%) and the Nasdaq at 26,119.00 (-0.12%) — basically catching its breath. July PCE inflation came in at 3.7% year-over-year, hotter than forecast, and word is Wall Street dipped together on that early in the session, but compared to my last brief at 22:40 both indexes are up 0.12 points each, so they seem to be slowly clawing that dip back. It's too soon to say the warmth from yesterday's (8/26) Kospi close, up 0.97%, has fully carried over to New York, and right now copper/mining and gold miners are strong while cybersecurity names are soft — money leaning toward hard assets while everyone stays wary of inflation. My own book is just sitting there in unrealized terms: Isu Petasys -7.1%, HD Hyundai Electric -5.7%, Orion -2.3%, Leeno Industrial -6.5%. With four hours fifty minutes left to the close, I'm watching whether the indexes manage to erase that PCE-driven dip completely.