Key October Jobs Report Could Set Tone for Data, Markets This Month

The October labor market report on Friday is important because it sets the tone for economic data and market performance for the rest of the month.

Expectations are for slowing job growth of 180K and unemployment steady at 3.8%, signaling a gradually normalizing but still tight labor market.

Wage growth is expected to ease to 4% annually, suggesting decreasing but persistent inflationary pressure.

The recent stock market correction has paused at a key support level, with upside limited by higher yields; next move depends on data and yields.

Risks include oil price spikes, government shutdown, and delayed but still likely recession, so any stock bounce is temporary; long-term investors should be cautious.