An Afternoon Where Softer Yields Let Nasdaq Edge Ahead

Right now the S&P 500 sits at 7,618.42 (+0.88%) and the Nasdaq at 26,343.48 (+1.41%), both still holding onto gains. Compared with my 10:40pm brief, the S&P cooled off by 0.07 points while the Nasdaq added another 0.14 points. No real change in direction — just Nasdaq quietly stretching its lead a bit further.

Behind it is Treasury yields easing off. Bond prices firmed on news of a Saudi ceasefire proposal and the Bank of England pausing its gilt sales, and Nasdaq 100 futures jumped hard for a stretch on that. By sector, cybersecurity names are standing out while financials and utilities lag behind. Compared with yesterday's Korean close — Kospi basically flat (-0.04%, Sept 17 close) and Kosdaq up only modestly — today's US session leans noticeably harder into risk assets. The won weakened to 1,363.57 (+1.33%) and the dollar index strengthened to 100.31 (+0.66%) right alongside it. In my own book, HD Hyundai Electric sits at -9.0%, Microsoft at +25.4%, NVIDIA at +2.7%, and Freeport-McMoRan at +5.8% — that's just where the unrealized P&L stands right now, not today's move.

There's still about four hours fifty minutes left until the close. With rate and credit conditions looking friendly and the market mood generally calm, I'll be watching whether cybersecurity strength holds up, whether financials and utilities keep sliding, and whether the won and dollar keep leaning the same direction.