A.M. Update – Payrolls Miss

S&P futures are down -0.3%. The ADP employment report was way off the Payrolls report this morning. The Payrolls report missed expectations, coming in lower. It’s the first miss in 13 months, but wages were on the hot side. April and May were both revised lower. Nonfarm payrolls increased by 209,000 in June (consensus 220,000)…