Nasdaq Composite dropped 0.9%, S&P 500 slid 0.8%, and Dow declined by 0.7% after the numbers hit. Nonfarm payrolls rose by 263K vs. 200K expected. Average hourly earnings rose 0.6%, double forecasts, putting pressure back on the Fed to remain vigilant on wage pressure and tight conditions. Chicago Fed President Charles Evans and Richmond Fed President Tom Barkin will speak today before the Fed’s quiet period starts. Among active stocks, Rigel is soaring after FDA approval of a blood cancer drug that has been approved by the FDA for blood cancer treatment, and the company is now on the verge of a $1.2 billion dollar rally. The dollar index rallied into positive territory. . . .
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