Looking at two market drivers: Nvidia earnings and non-farm payroll report
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Nvidia delivered strong earnings with revenue $57B up 62%, data center revenue $51.2B up 66%, EPS $130 beating $126, and forward guidance of $65B exceeding $62B expectations
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Nvidia's strong performance relieved pressure on the AI sector and caused today's relief rally and resumption of upside rally
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Jobs data showed 119,000 jobs vs 50-52K expected, unemployment rate 4.4% ticking up, wage inflation 0.2% better than expected
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Fed funds probability for December rate cut increased from 27% to 43% chance