Opened mixed, turned green: the Nasdaq is out front
Right now the S&P 500 sits at 7,752.66, up 0.39%, and the Nasdaq at 27,381.48, up 0.70%. Against my last brief (22:40), the S&P 500 has added 0.24 percentage points and the Nasdaq 0.19. A tape that opened mixed has quietly shifted into green. Four hours and fifty minutes remain until the close.
| Index | Level | Change | vs. last brief |
|---|---|---|---|
| S&P 500 | 7,752.66 | +0.39% | +0.24%p |
| Nasdaq | 27,381.48 | +0.70% | +0.19%p |
Opened catching its breath, then AI took over
The morning headlines said Wall Street opened mixed, with tech pausing near record highs and everyone eyeing Treasury yields. Then Nvidia, Tesla and Microsoft turned up early, and the Nasdaq pulled ahead. By sector, cybersecurity and AI are strong while healthcare and biotech are weak. I trace the lift to big tech.
My own book follows that grain. Microsoft is +32.9%, ConocoPhillips +1.2%, Coca-Cola -1.1%, and Vertex Pharmaceuticals, sitting in the weak sector, is -5.5%. Those are valuation gains and losses, not today's move. The dollar index slipped to 101.93 (-0.17%) while the won weakened to 1,360.59 per dollar (+0.28%), so the two disagree. With real-economy data losing steam, the market overall stays calm.
Korea's warmth, only half inherited
The last Korean session (10/2 close) is already settled: KOSPI +0.46%, KOSDAQ -0.11%. A US tape led by growth names fits KOSPI's warmth but not KOSDAQ's slight dip.
Three things I'm watching into the close. Whether the Nasdaq's +0.70% holds after reversing a mixed open. Whether cybersecurity and AI strength keeps pressing down on biotech weakness. And which way Treasury yields, the thing everyone was watching, decide to move. I also want to see if the +0.24%p gained since my last brief survives to the bell. I'm only watching.