Investors may respond favorably to consumer spending reports from the week. While gains from the US markets will likely provide support, the Chinese markets will reopen after Golden Week. The NASDAQ Composite Index rallied 1.60%, with the S&P 500 and Dow gaining 1.18% and 0.87%, respectively. While a jump in nonfarm payrolls surprised investors, softer wage growth and a steady unemployment rate provided relief. The US Jobs Report from Friday will set the tone for the Monday session. The Monday Session: US Jobs Report Reaction Economists forecast household spending to increase by 0.9%. Household spending surged by 3.9% in August, reversing a 2.7% slide from July. On Thursday, there was speculation of a possible tweak to the Bank of Japan’s (BoJ) Yield Curve Control Policy and forward guidance. Household spending figures from Japan and sentiment toward Bank of Japan policy goals weighed on the Nikkei. Investors were likely mindful of the implications of the US Jobs Report on the Fed rate path and its impact on the markets. The overnight moves across the US equity markets kickstarted a cautious start to the Friday session. On Thursday, the NASDAQ Composite and the S&P 500 fell by 0.12% and 0.13%, with the Dow declining by 0.03%.
