Time to Sell Rosh Hashanah

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While things "held" together yesterday, Fed officials will be watching the jobs number closely as they contemplate the next move for monetary policy and interest rates. After the Fed cut rates by 0.50% in September, the CME Fed Funds are pointing to a 0.25% rate cut in November and a 0.50% cut in December. That is why Friday's jobs number is so important. Economists predict the economy added 140,000 jobs in September, slightly below the 142,000 in August. Meanwhile, the unemployment rate is forecast to remain unchanged at 4.2%.