A.M. Update -Weak Payrolls Report

S&P futures are up +1.1%. Big pre-open gains in Apple (AAPL), which beat earnings estimates and authorized a $110 billion buyback program, and Amgen (AMGN), which reported better-than-expected earnings, have contributed to the upside bias. Additional gains come on the back of a weak employment report and market hopes this sways the Fed to cut…