The U.S. economy adds 74,000 jobs in December, far below expectations, while the unemployment rate drops to 6.7%, its lowest level since October 2008. Wells Fargo Private Bank Regional Chief Investment Officer Darrell Cronk tells TheStreet's Joe Deaux this report comes as an outlier to most of the recent economic data, which has signaled a marked improvement in the economy. Cronk says December's weak report won't slow the Federal Reserve's taper, and that stocks are likely to continue trending higher.

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