Chips Bounce 4%, AMD Up 10% After 165,000 Jobs
AI Builders — Chips Bounce 4%, AMD Jumps 10% and IREN 20% After a Strong Jobs Report
The economy added 165,000 jobs in October against about 60,000 expected. JFrog soars 34% and Cloudflare 11% on raised outlooks, SpaceX rebounds 6%, while the equal-weight S&P 500 is flat: the bounce sits in the names sold hardest this week.
In this edition
The Midday 10 Fri, Nov 6, 2026 ~60 seconds 12:30 ET
After two days of selling, the companies that build AI bounce. The chip fund SMH rises 3.8% and the Nasdaq 1.7%, and the VIX, Wall Street's fear gauge, falls 12.8% to 24.6. The jobs report helped: the economy added 165,000 jobs in October, far more than the roughly 60,000 expected, and unemployment slipped to 4.1%. But the bounce is narrow. The Nasdaq 100 fund QQQ is up 2.1% while the equal-weight S&P 500 is flat, and staples and low-volatility stocks fall: money is going back into the names that were sold hardest, not into the market as a whole.
US midday, quotes as of 11:27 ET (delayed)
- The indices — Nasdaq up 1.7%, the fear gauge down 13%
- Jobs — 165,000 against about 60,000 expected
- Chips — AMD up 10%, the chip fund up 4%
- Usage software — JFrog soars 34%, Cloudflare up 11%
- IREN — up 20% as AI cloud revenue nearly triples
- SpaceX — sold on Musk’s politics, bought on space
- After results — DraftKings sinks 27%, Natera 15%
- ETF board — momentum back, defensives sold
- Earnings record — four sold grades likely at the close
- The users of AI — Apple and Microsoft flat
The ten lines
- 1
LEVEL The indices — Nasdaq up 1.7%, the fear gauge down 13%
SPYQQQRSPDIA
The S&P 500 rises 1.0% to 7,424.23, the Nasdaq Composite 1.7% to 24,719.26, while the Dow is flat at 51,566.97 (+0.1%) after dipping 1.0% at the open. The VIX falls from 28.18 to 24.57, down 12.8%, after touching 23.47. The Nasdaq 100 fund QQQ gains 2.1% to 660.55; the equal-weight S&P 500 fund RSP is flat at 216.75 (−0.1%). SPY at 740.05 is still well below its 50-day average of 766.40, and QQQ below its 722.27: Thursday’s damage is not repaired.
- 2
LEVEL Jobs — 165,000 against about 60,000 expected
IEFTLTUUP
The economy added 165,000 jobs in October; economists had expected about 59,000 to 65,000 (CNBC, Benzinga). September was revised up to 60,000 from 29,000 (Morningstar), and the unemployment rate slipped to 4.1% from 4.2%. Bond yields rise a little: the 5-year Treasury yield to 4.64% from 4.61%, the 10-year to 4.85% from 4.84%, and the dollar index gains 0.6% to 102.19. The Fed raised rates in September and meets next on 8–9 December; Reuters writes the report gives it more room to focus on inflation.
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- 3
UP Chips — AMD up 10%, the chip fund up 4%
SMHAMDTSMMUNVDAAVGOCOHRVST
AMD rises 9.8% to 444.21 from Thursday’s close of 404.40. TSMC gains 6.3% to 375.48, Qualcomm 6.1%, Micron 5.8% to 694.25, Nvidia 3.9% to 188.69 and Broadcom 1.9% to 297.07. The chip fund SMH is up 3.8% to 464.65 but was up 6.4% at its high of 476.25, and it remains far below its 50-day average of 567.82. The connection and power names follow: Coherent rises 13.0%, Vistra 9.9%, Vertiv 3.9%.
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Ten lines on the US midday tape, not advice — an investment diary. Published every trading day at 12:30 ET. See The Morning 10 and the Daily Pulse.