Fed speakers will also be important after Fed Chairman Jerome Powell said in the past week that the Fed is still looking for "substantial further progress" in its goals for the economy.
"Next week is all about the jobs number, because as part of the Fed's path to 'substantial progress' on their two roles, we'll see how much further along that path they are next Friday" said Peter Boockvar, chief investment officer at Bleakley Advisory Group. The Fed's mandate is to pursue full employment and a steady pace of Inflation, which it has targeted at 2%.
on paring back bond purchases because imbalances in financial markets and the economy is improving faster than expected. "If this jobs number comes in super hot, it's going to make people up their estimate on when the Fed might taper," said Michael Schumacher, director rates at Wells Fargo.
The benchmark indexes are already down today!