Gold Jumps, the Index Just Catches Its Breath

Right now the S&P 500 is basically flat at 7,675.68 (-0.02%) and the Nasdaq's off a touch to 26,120.90 (-0.12%). Compared to my 1:40am check-in that's actually decent ground clawed back (S&P +0.21pp, Nasdaq +0.36pp) — last night's wobble is settling back into place. Falling oil eased tightening worries, gold jumped 7% in five days on that, and copper/mining and gold-mining names are riding that strength right now while cybersecurity names lag. Fed's Warsh admitting he still can't nail down what's driving inflation keeps the rate math foggy, but yesterday's calm in Korea — Kospi +0.97%, Kosdaq -0.03% (Aug 26 close) — seems to have carried straight into today's US session too. My book's still all red — 이수페타시스 -7.1%, HD현대일렉트릭 -5.7%, 오리온 -2.3%, 리노공업 -6.5% — and for the last hour and a half I'm just watching whether the gold/copper strength holds and whether rate bets wobble again after Warsh's comments.