Pre-market: Payrolls came in 2.7× the estimate (+165k), wiping out recession fears — but putting a rate hike back on the table. → Unemployment 4.1%, average hourly earnings +0.4% (est. +0.3%) → 10-year yield 4.88%, Nasdaq futures +1.6% → Semis bouncing: $LRCX +11.5%, $MRVL +8.9%, $AMD +7.8% I think the print can be spun both ways, and after yesterday's sell-off we'll see which way the open reads it. Worst case: if the 10-year breaks above 4.9%, the chip bounce flips into selling; watching that closely. Watching: $LRCX $MRVL $AMD #JobsReportRaisesHikeOdds #Jobs #AI