Yields Cool Off Ahead of Jackson Hole, But Nasdaq's Still Smiling

Right now the S&P 500's up 0.62% and the Nasdaq's up 1.28%, though both have eased off a bit from where they were an hour ago in my last brief. Treasury yields slid across the board ahead of Fed Chair Warsh's Jackson Hole speech, and that breeze blew a little harder toward Nasdaq tech, with copper and mining names catching a bid while energy and utilities got left behind. My Freeport-McMoRan position is still riding that copper strength, sitting on a +26.1% unrealized gain. Yesterday's (8/27) Kospi and Kosdaq closed up a strong +1.53% and +1.30%, and that warmth seems to have carried over into tonight's New York session — though with over half the dollar options market leaning bullish, one line from Warsh could flip the mood in a hurry. With about an hour and fifty minutes left before the close, I'm just watching whether yields and the dollar actually pivot on whatever he says.