A few things I'm watching:
Chips bounced back hard. After Thursday's big selloff, AMD closed up 11% to $449.04, Intel up 7.7% to $56.28, and the Philly Semiconductor Index up 4.2%. The bounce makes sense - AMD's Q3 was actually strong, record revenue $13.38B, up 45%, data center up 97% to $8.5B, and Q4 guidance around $17B. Thursday felt more like panic about AI regulation after the midterms than about the numbers.
Singapore banks finished earnings. OCBC was the only one to beat - Q3 profit $2.04B, up 3%, and they raised 2026 loan growth guidance to low double digits. DBS missed with profit down 5% to $2.81B because trading income fell 65%. UOB also missed at $1.25B. OCBC is around $27.70 now, well off its high.
Jobs came in hot. US October payrolls +165k, way above the 65k expected, unemployment down to 4.1%. That pushed December rate hike odds up to 78%. That's why the Dow still fell 0.46% even though Nasdaq rose 1.09%.
China tech was a bit better. JD.com up 1.64%, Alibaba up 1.28%, Golden Dragon Index up 1.67% for the day. Watching if that holds.
For me, I'm not chasing the chip bounce. Just watching if AMD can hold above $440 and if OCBC can hold around $27.70.
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