When it comes to the jobs report Friday, investors can't seem to make up their mind what they want. If that below-consensus report is what traders get Friday, he said, the S & P 500 can rally 0.5% to 1%. On the other hand, JPMorgan traders expect that a strong jobs report will be just the fuel to keep the market going higher, and officially forecasts the U.S. to have added 275,000 jobs last month. As it is, stocks are quite possibly priced for perfection heading into the report, raising the stakes for the jobs report to come in just right. Year to date, the Dow Jones Industrial Average is 19% higher, the S & P 500 is up by more than 27%, and the Nasdaq Composite has surged more than 31%.

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Persons: Dow Jones, John Flood, Goldman Sachs, Flood Organizations: Federal Reserve, Goldman Sachs Global Banking, Markets, JPMorgan, Dow Jones, Nasdaq Locations: U.S, payrolls