Wall Street needs a ‘goldilocks’ jobs report, with stocks vulnerable into October

Wall Street is going to need another "goldilocks" number out of next week's jobs report, as investors grow wary of a pullback. The September nonfarm payrolls report, which is due to come out Friday, is expected to have a bigger impact than usual for the market, as it will determine the path of monetary policy for an unusually polarized Federal Reserve. Markets were last pricing in two interest rate cuts for the remainder of 2025, the same as what the central bank itself projected at its last meeting . Stocks went higher on the back of the Fed's prediction. But that outlook is at the mercy of upcoming reports, and what's readily apparent to investors is that Friday's jobs data is going to have to hit the sweet spot for a data-dependent Fed. Not too hot as to turn policymakers hawkish. Not t