U.S. stock futures and Treasury yields declined on Friday after a disappointing jobs report .
The stock market's knee-jerk reaction immediately after the data was to cut losses on thinking the number offset concerns about the Federal Reserve removing stimulus sooner rather than later.
"With respect to the market, the rally in the S&P futures off a big miss still reflects the drug junkie attitude of anything that backs off the Fed is somehow good," emailed Peter Boockvar, chief market analyst at the Lindsey Group.
After erasing losses, stock-index futures turned lower, with Dow futures off 50 points.
The yield on the 10-year Treasury note turned lower, falling from 2.467 percent ahead of the payrolls data and lately down 5 basis points at 2.405 percent.
The Labor Department reported Nonfarm payrolls added just 142,000 jobs even as the jobless rate declined to 6,.1 percent. Economists had expected payroll growth of 225,000 last month.
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