The Fed Hiked Rates, and Stocks Breathed a Sigh of Relief

Right now the S&P 500 sits at 7,632.77, up 1.07%, and the Nasdaq is at 26,389.98, up 1.58% — both about 0.19 and 0.17 points higher than where they stood at my last check-in. It's not a sudden jump but a slow steady climb, and watching it I'm reminded again that markets sometimes react a beat later than the headlines, but more honestly.

The twist behind this rally is that it's built on a Fed rate hike. The Fed raised its benchmark rate to 3.75-4.00% for the first increase in three years, and even with Trump pushing for cuts, the read was that the Fed put price stability first — which the market took as a credibility boost rather than a threat. Add falling oil prices and steadier Treasury yields easing the pressure, and cybersecurity names led the charge while utilities and financials lagged behind. The overall mood stayed calm with favorable rate and credit conditions, which is probably why this hike landed as reassurance rather than a burden. The dollar stayed firm though, pushing the won past 1,363.57.

Yesterday's Korean session closed almost flat for the Kospi (-0.04%) with only the Kosdaq inching up (+0.76%), so whether this US warmth carries into the next open is worth watching. With more than three hours left until the close, I'll be watching whether cybersecurity strength and the utilities/financials weakness hold up, and whether the dollar keeps climbing. I'm holding HD Hyundai Electric, Alphabet, and Vertex in the red and ConocoPhillips in the green, riding it out until the close.