Fri, Jul 5, 2013 3:05 PM EDT 1:00
Investors didn't know what to make of the jobs report: They were cheered by a big uptick in hiring but worried that the good news will spur the Federal Reserve to scale back its economic stimulus. Stock index futures jumped as investors looked ahead to the monthly payrolls report, which is expected to show solid jobs growth while not being strong enough to influence Federal Reserve policy. The central bank's bond-buying stimulus program has been widely credited with both the steep stock market gains thus far in 2013, as well as recent volatility as market participants question the timeline for the program ending. Job growth was stronger than expected in June and the employment count for the prior two months was revised higher, showing the economy on solid ground and likely keeping the Federal Reserve on track to scale back its massive monetary stimulus later this year.