According to official labor data, the U.S. added 163,500 nonfarm jobs in October, far exceeding estimates of 100,000, while the unemployment rate fell to 4.1%. The stronger-than-expected employment report boosted market expectations for a December interest rate hike to 80%, driving the dollar higher and triggering a 1% rebound in the Nasdaq on Friday, with semiconductor stocks also posting a technical recovery.

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