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The Week Ahead: Spotlight on Jobs Data

We're also watching for the consumer spending and income report, ISM index, auto sales, and factory orders.

Jeremy Glaser: For Morningstar, I'm Jeremy Glaser and welcome to The Week Ahead, our quick take on what investors should have on their radar screens for the week starting Aug. 29.

With earning season behind us, all eyes will turn to economic data as August ends. Jobs data is the marquee release, as investors continue to look for signs that economy is chugging along and to get some hints as to when the Federal Reserve will raise rates again.

One thing to keep in mind, though, is that the initial reading of August report for the past few years has been very disappointing, so another poor number this week shouldn't necessarily be read as a sign that things are falling apart.

The Fed is of course looking at inflation as well as the job market, and their preferred price level gauge is embedded in Monday's consumer spending and income report.

We'll get an update on the manufacturing sector with the ISM index and auto sales on Thursday, and factory orders on Friday.

Stay tuned to Morningstar for our take on all of these stories.