Last night, the US non-farm payroll data was released, and the market instantly exploded. December added only 50,000 jobs, with previous data revised downward, and the annual employment growth fell to a five-year low—these numbers look a bit grim. But on the other hand, the unemployment rate actually dropped to 4.4%, showing that the labor market remains resilient.

What was the result? The market collectively changed its tune. The probability of the Federal Reserve cutting interest rates in January plummeted from an astronomical figure to just 5%, and the first real rate cut is now expected not until summer 2026. Those betting on "rate cut trades" are now disappointed.

But this is not the end of the story. Despite the ups and downs, US stocks continued to surge. Do you know why? The market is smart—it's shifting focus to new themes—like the story of AI combined with energy.

Tech giants like Meta have started aggressively signing off on nuclear power agreements to supply energy for AI and data centers. Suddenly, energy concept stocks are on fire. Vistra's stock surged over 10%, and even Bill Gates-backed Oklo jumped nearly 8%. This "energy race" led by tech giants has now become the main dish in the capital markets.

In short, a single employment report has dramatically rewritten the entire market script. The rate cut dream is shattered, but the energy investment opportunities brought by industrial upgrades have just opened up. This is the real story worth paying attention to right now.