For stocks, there's no need to fear good news

FILE - In this Thursday, May 30, 2013 file photo, job seekers line up to register to attend a job fair held in Atlanta. Unemployment under President Barack Obama has remained high for the longest period since the Great Depression. Despite a slowly improving job market, the millions of Americans without jobs underscore weakness in the recovery, drag down consumer spending and still roil the nation's politics. (AP Photo/John Amis, File)

NEW YORK: Wall Street doesn’t hate good news after all.

The June jobs figures were stronger-than-expected and caused a big sell-off in the bond market. That further underscored expectations that the Federal Reserve will be chopping back its big bond-buying programme sooner rather than later. This kind of occurrence in the past would have caused the stock market to freak out.