Wall Street isn't sweating the mixed jobs report

The Dow finished the day down nearly 10 points, but it alternated between small gains and declines throughout much of the day. The S&P 500 dipped 0.2% and the Nasdaq fell 0.5% after both also hovered between modest increases and drops. Friday's slide marked the end of a three-day winning streak for stocks. But all three indexes ended the week solidly in green, with the Dow having its best week since late June. The Dow is now just 2% below the all-time high it hit in August.

But the question is whether investors are ready to see the central bank start to unwind its stimulus."It's time for the Fed to take the training wheels off the economy. The economy is ready. But I'm not so sure if the stock market is ready," said George Cipolloni, a portfolio manager with Penn Mutual Asset Management.The fact that jobs gains have slowed will probably lead the Fed to take a gradual approach to tapering.

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