A.M. Update – Employment Misses, Wages Rise, Yields Jump

The S&P index enters the last day of the week down -1.5%. S&P futures were trading up +0.3% until the December Payrolls missed expectations bigly as wages continued to rise. Futures are now down -0.1%. December nonfarm payrolls increased by 199,000 (consensus 440,000) while the prior month’s increase was revised up to 249,000 from 210,000….