The labor market was bad last year. Will investors get stung by a poor January jobs report, too?

Investors are on edge about the January jobs report after an anxious week on Wall Street — but the survey is likely to tell them more about the past than the future of a fragile U.S. labor market.

Stocks were hit hard last week before staging a dramatic recovery on Friday that catapulted the Dow Jones Industrial Average

DJIA above the 50,000-point threshold for the first time ever. Meanwhile, U.S. Treasurys BX:TMUBMUSD10Y finally saw safe-haven demand as silver SI00, gold GC00, bitcoin BTCUSD and other hot areas of the market convulsed.