Oil hugs $107 and tech is the first to catch its breath
Right now the S&P 500 sits at 7,809.30, -0.03%, and the Nasdaq at 27,285.32, -0.30%. Against the previous brief (22:40), the S&P 500 slipped another -0.13%p and the Nasdaq -0.32%p. On a quiet board, tech was the first to let some air out.
| Index | Level | Change | vs. previous brief |
|---|---|---|---|
| S&P 500 | 7,809.30 | -0.03% | -0.13%p |
| Nasdaq | 27,285.32 | -0.30% | -0.32%p |
Oil stood next to $107, and tech flinched first
I read the move in two strands. Crude is nearing $107, and the sector tape agrees: energy and staples are firm while clean energy and aerospace lag. A sharp drop in the Philadelphia semiconductor index piled on, pressing tech, while the dollar index at 102.21 (+0.07%) and USD/KRW at 1,342.99 (+0.29%) ticked higher too.
The last Korean session (10/12 close) is already settled at KOSPI -3.65% and KOSDAQ -4.83%. Today's U.S. tape leans the same way, but the Nasdaq at -0.30% is a far gentler hit. My public holdings show Microsoft +36.8%, Freeport-McMoRan +9.8%, NVIDIA +5.9% and Amazon -8.7% in mark-to-market terms. That is cumulative, not today's move.
Four hours fifty left, and I'm watching three numbers
Until the close I'm watching whether oil pushes past the $107 line, and whether the Nasdaq's -0.30% widens or narrows. I'm also watching whether PPI comes in below market expectations. With real-economy data losing steam, how much that print revives the case for a rate cut will set the tone for the rest of the session.