S&P has rallied on 10 straight jobs report days

|By:, SA News Editor

It's a streak not seen since at least 1998, according to Bespoke Investment (as far back as its research goes). Going back to 2012, stocks have rallied on 14 of the last 15 jobs report days.

Trying to explain the unexplainable, Wells Fargo CIO Dean Junkans speculates it's a bad news is good news, good news is good news kind of thing. Weak prints mean the Fed is going to stay looser for longer and strong reports suggest the underlying economy is doing decently.

Citi's Stephen Englander suggests a reason for the streak to end today: Investors have largely ignored a string of Fed officials touting the growing strength of the recovery and setting the stage for serious rate hike talk. A strong print this morning might force a quick recalibration of attitudes.

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