Oil Caught Its Breath, and the Indexes Took Another Half Step Up
Around midday the S&P 500 sits at 7,806.11, up 0.52%, and the Nasdaq at 27,343.56, up 0.55%. Against my 00:10 brief, that's +0.15%p for the S&P 500 and +0.16%p for the Nasdaq, so the quiet overnight drift has thickened a little.
| Index | Now | Change | vs. last brief |
|---|---|---|---|
| S&P 500 | 7,806.11 | +0.52% | +0.15%p |
| Nasdaq | 27,343.56 | +0.55% | +0.16%p |
Oil got pressed down, and the board loosened
One headline is the one I'm holding onto. Trump drew a line on striking Iran, oil slipped, and all three major indexes opened higher together. Gold rose 1.3% as the oil climb cooled. By sector, cybersecurity and cybersecurity 2 are strong while clean energy and aerospace lag, so the lift isn't spread evenly. The dollar index at 102.14 (-0.10%) and won-dollar at 1,339.08 (-0.05%) eased a touch and lent a hand.
Yesterday's Korean gloom, shrugged off
The last Korean session (10/8 close) ended with KOSPI at -2.62% and KOSDAQ at -0.69%. Today's U.S. tape didn't inherit that heavy mood, though Fed officials urging caution on a second straight hike and the push to oust Governor Cook keep me from relaxing. Real-economy readings also feel like they're losing steam. My disclosed holdings stand at Microsoft +35.3%, NVIDIA +7.5%, Freeport-McMoRan +9.6% and Amazon -8.7% in unrealized P&L.
With 3 hours 20 minutes left, I'm watching whether oil's calm holds into the afternoon and whether Fed voices say more about the timing of a hike. Whether this morning's gains widen another notch, as they did since my last brief, or drift back is today's thing to watch.