Thursday's AI sell-off talked traders out of a December rate hike. Friday's jobs report talked them right back in. Chip stocks had their second-worst day since 1994 on Thursday. Polymarket's chances of a quarter-point hike at the Fed's Dec. 9 meeting sank to about 64% that day, from 81% the day before. Then employers added 165,000 jobs in October , more than double the forecast, and the probability climbed back to about 78%. That's great news for anyone hunting for a job. It's less great for anyone hoping the Fed would ride to the rescue of a bruised and battered stock market. The report was strong almost everywhere you looked. The unemployment rate slipped, the prior two months were revised higher, and paychecks grew faster than expected.
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