Payrolls and the stock market: Wall Street usually shrugs off jobs report

Friday's report missed consensus by a mile, for example, showing the economy added a paltry 235,000 jobs instead of the 728,000 expected by economists. But Wall Street seemed to largely shrug off the disappointment. The S&P 500 was essentially flat. (File pic shows unemployed in US lining up to fill jobless forms.)

NEW YORK: Markets always look to the Labor Department's monthly employment report with great anticipation. But whether the data disappoints or surprises to the upside often has only a modest effect on overall stock index moves.

Friday's report missed consensus by a mile, for example, showing the economy added a paltry 235,000 jobs instead of the 728,000 expected by economists.