Investors are eagerly anticipating the release of the September jobs report at 8:30 am ET, with various experts sharing their insights on what to expect.
Chief economist at Comerica Bank, highlighted that hiring is likely to rebound in industries closely tied to the interest rate cycle, such as housing, manufacturing, and retailing of big-ticket consumer goods like houses, autos, and furniture. However, he noted that the September job report might be too early to reflect this rebound.
Chairman of Navellier & Associates pointed out that expectations for the payroll report are low due to potential impacts from Hurricane Helene on the Labor Department's survey.
Head of investment strategy at Global X expressed that nonfarm payrolls may slightly deviate from expectations but might not significantly affect the market. He also mentioned that upcoming earnings season is expected to show robust sales and earnings growth.
Managing director of investment decision research at SimCorp highlighted that while it is early to gauge the economic impact of the recent Fed reversal, current evidence suggests decent employment gains. She mentioned that unless the job numbers deviate significantly from expectations, the Fed is likely to continue with its planned 25 basis point cuts at the next two meetings.
Overall, the consensus among experts is that the September jobs report may not show a substantial deviation from expectations and that the market is likely to remain stable. Investors are advised to keep an eye on the upcoming earnings season for further insights into the economic landscape.
