Nobody knows what Wall Street will do with upcoming jobs report

On Friday, we’ll get the latest report on the employment situation. And while the reports these days aren’t nearly as important as the ones before the midterm elections, the report for December that’ll be released at 8:30 a.m. Friday will be a lot more confusing.

The “experts” see job growth of around 185,000, which would be an improvement over the disappointing 150,000 jobs that were reported as being created in November.

The unemployment rate, which nobody should ever attach any importance to, is expected to drop to 3.6 percent from 3.7 percent.

Why am I saying that Friday’s report will be confusing?

In the first place, if the number doesn’t come out near where it is expected, the “experts” will blame the government shutdown for influencing the data.

And the buildup to the holiday shopping season is always full of surprises.

But here’s the most confusing thing about the December jobs report and probably the most important to anyone who reads this column: How will the latest report affect the financial markets?

And the answer is: Nobody really knows.

Is Wall Street looking for a strong economic number that’ll increase optimism about business conditions moving forward? Everyone wants a good economy, but right now a good employment number will mean that the Federal Reserve will likely continue on the course of interest rate hikes.

And that’s not something Wall Street wants.