Blue-nami Hangover: Chips Bounce, Breadth Doesn't As Hot Payrolls Put December Hike Back On The Table

Tl;dr: After Thursday's "Fireworks Day" carnage, Friday was the morning-after: a dip-buy (and short-cover) in the most-smashed AI/semis names lifted the Nasdaq, but under the hood most S&P stocks were red. A blowout payrolls print (165K vs 70K est, unemployment down to 4.1%) killed the "growth scare" narrative and put a December rate-hike right back on the table, which bear-flattened the curve, sent the dollar higher, and weighed on gold and bitcoin. Oil chopped around ~$90 as Hormuz mine headlines collided with US-Iran deal headlines. Small caps and the Dow Jones were the best performers on the day, while the spoos and Nasdaq lagged. 

On the week: Nasdaq's worst day since Covid, a record put day, a record ETF levered/inverse flow split, and the S&P down ~2%.