A.M. Update

S&P futures are up +0.3%, but off pre-market highs after Payrolls missed. March nonfarm payrolls increased by 431,000 (consensus 475,000) while the prior month’s increase was upwardly revised to 750,000 from 678,000. Nonfarm private payrolls increased by 426,000 (consensus 450,000) while the previous month’s increase was upwardly revised to 739,000 from 654,000. The unemployment rate…