A.M. Update – Payrolls HOT

S&P futures are down -0.4% as Payrolls and wages soared. Nonfarm payrolls increased by 272,000 in May, well above 180k consensus,  following a revised increase of 175,000 in April (from 175,000). Nonfarm private payrolls rose by 229,000 in May (consensus 168,000) following a revised increase of 158,000 in April (from 167,000). The unemployment rate rose…