A help wanted sign on a storefront in Ocean City, New Jersey, US, on Friday, Aug. 18, 2023. Surveys suggest that despite cooling inflation and jobs gains, Americans remain deeply skeptical of the president's handling of the post-pandemic economy. Photographer: Al Drago/Bloomberg via Getty Images
Check your calendar: It's the first Friday of the month, which means investors are waiting for jobs data from the Department of Labor. Economists polled by Dow Jones expect that the U.S. economy added 170,000 jobs in August, a slight slowdown from the 187,000 created in July. Meanwhile, average hourly wages are expected to rise 0.3% month over month, down from a gain of 0.4% in July. The report could provide clues on what the Federal Reserve will do at its September meeting.
, traders are pricing in a less than 15% chance of a rate hike this month. However, a hotter-than-expected nonfarm payrolls report could increase those odds.A pharmacist displays boxes of Ozempic, a semaglutide injection drug used for treating type 2 diabetes made by Novo Nordisk, at Rock Canyon Pharmacy in Provo, Utah, U.S. March 29, 2023.