Why stocks jumped after a dismal July jobs report

Spencer Platt/Getty ImagesInvestors weren't terribly dismayed by the grim July jobs report on Friday.That's because the "bad news is good news" paradigm for markets remains in effect.While the weak data bodes poorly for the economy, it's reduced the odds the Fed will hike rates.It was a terrible month for the US labor market in July — but for investors, that's not necessarily bad news.US stocks jumped on Friday even as data showed the US lost 23,000 payrolls in July, a huge miss from expec