A.M. Update

S&P futures are up 0.15%. The jobs report didn’t only beat estimates but blew them away… a very different jobs report than what ADP reported. The market can kiss July rate cuts goodbye, it’s not happening after this morning. Nonfarm payrolls increased by 147,000 in June (consensus 106,000) after a revised 144,000 (from 139,000) in…