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Will Friday's Jobs Report Rock Wall Street?

Brace yourself for the jobs report. It’s out Friday.

According to a Reuters survey the private sector, is expected to have added 145,000 jobs after a mere 50,000 in November.

What's the likely market impact?

Signs of the strengthening economic recovery have buoyed U.S. stocks in recent days.

But don’t expect a big rally if the jobs report is inline or even slightly above expectations. Analysts says the good news is already priced in – especially after a ADP released a bullish report earlier in the week.

However, a big beat - say a figure well above 200,000 - could move the market largely because it would boost the dollar and erase concerns about the state of the consumer raised by the recent same-store sales figures.

And should the jobs report miss expectations we may be looking at a sell-off. It will be the second piece of economic data calling the recovery into question. (Same-store sales disappointed investors on Thursday.) Jittery investors may worry that the market is overbought, and sell first then ask questions later.

After hearing from Deutsche economist Joe LaVorgna, a disappointing jobs number may be exactly what we're looking at.

He tells the desk, “People are too optimistic for Friday (though not to optimistic for 2011)… I just don’t see how the number can be strong." He worries that the jobs number will be distorted by the weather. In fact, he says weather can translate into 100,000 or more in lost jobs, temporarily.

Get all the details. Watch the video here!


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