US Jobs Report and Inflation Data to Test Interest Rate Path

The upcoming jobs report and inflation data will test the US interest rate path and economic strength.

Investors are waiting for the monthly employment report on October 2, which is expected to show growth of 100,000 jobs and an unemployment rate of 4.2%, according to a Reuters poll of economists.

A key inflation gauge will also be in focus as investors scan for implications for the Federal Reserve, which began raising interest rates this month for the first time in three years to fight high inflation.

'When you step back and look at what matters to the market right now, the Fed is front and center, interest rates are front and center,' said Jim Baird, chief investment officer with Plante Moran Financial Advisors.