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The BLS marked down a year of payrolls while he was still talking.

Twenty-three of the Dow's 30 members finished lower.

Nvidia guided to $108 billion and futures moved overnight.

The bond market moved first. The stock market barely moved at all.

Semis dropped 2.7% even with yields falling, two days before Nvidia.

US business activity just hit a 52-month high. That makes the long end harder, not easier.