Here's how stocks could react to the looming April jobs report

JPMorgan said the S&P 500 could swing as much as 1% depending on what April jobs data shows.

NYSE

• Markets are bracing for a key labor-market update on Friday.
• Options data implies a move of as much as 1.3% in the S&P 500 following the April jobs report.
• Strong hiring has both positive and negative implications for the stock market.

The April jobs report could jolt the stock market on Friday.

Wall Street is eyeing the potential for a big swing...