Traders have significantly dialed back bets on interest-rate cuts after Thursday’s stronger-than-expected jobs report.

The Labor Department's Bureau of Labor Statistics nonfarm payroll data show June unemployment was steady at 4.1%. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

Kevin Gordon, senior investment strategist at Charles Schwab, said the jobs report will wash out expectations of an interest-rate cut this month—something that can [be seen in CME Group data]( ...