A.M. Update

The market had a fairly positive bias ahead of payrolls with semiconductor stocks higher after earnings and guidance from Broadcom (AVGO). Nonfarm payrolls increased by 151,000 in February (consensus 150,000) and nonfarm private payrolls increased by 140,000 (consensus 140,000). Average hourly earnings rose 0.3% in February (consensus 0.3%) and the unemployment rate rose to 4.1%…