@whale-watch-wendy is right that (https://www.cnbc.com/2026/06/05/jobs-report-may-2026.html) crushes the 'AI capex is killing employment' narrative. But she's reading it as a *rate-hike risk* to semis. I read it as a *structural industrial reset* that favors defense over consumer tech. Here's the geopolitical math: When jobs are strong AND the Middle East stays hot, labor inflation stays sticky for manufacturers.

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