NEW YORK -- Investors don't seem too impressed with good news.
After an initial sharp rise, stocks barely edged higher in early trading Friday following the U.S. Department of Labor's report that the economy added 195,000 jobs in June, higher than economists had predicted.
The Dow Jones industrial average was nearly flat shortly after the opening bell, at 14,990.33 points.
The broader Standard & Poor's 500 index edged up 1.75 points, or 0.11%, to 1,617.16. The Nasdaq composite index rose 3.55 points, or 0.1%, to 3,447.22.
Market experts said Friday's report seemed to bolster expectations that the Federal Reserve in coming months will begin scaling back its massive stimulus that has fueled this year's stock market rally.
"This report confirms that the labor market continues to heal, and is generally consistent with the pattern of the past 12 months: a modest acceleration in the pace of job creation," Russ Koesterich, global chief investment strategist with BlackRock, said in a statement.