November's employment report could be good news for the economy but bad news for stocks.
Economists expect to see about 180,000 jobs added in November, off from October's 204,000 level, and the unemployment rate a 10th lower at 7.2 percent.
Traders, however, are discussing higher whisper numbers well above 200,000, and that has been weighing on stocks and sending bond yields higher on speculation a strong number would speed up the timetable on the Fed's wind-down of its quantitative easing program.
A better report would raise the odds the Fed would decide to taper its bond buying program when it meets in December, Fed watchers say. But they still mostly believe tapering of the $85 billion a month program in January or March is more likely. November's employment report is being released at 8:30 a.m. EST Friday.