Weekly jobless claims up next following soft ADP data; payrolls on deck

Stocks will continue to key on labor market data this week with weekly jobless claims and September non-farm payrolls expected today and tomorrow.

The Bureau of Labor Statistics will add another round of data to this week's mixed readings on the job market as investors remain fixated on movements in Treasury yields amid renewed inflation concerns.

Last week, the BLS reported only 204,000 new applications, the lowest level in nearly eight months, in a reading that added to wage-lead inflation concerns in the tight U.S. labor market. The BLS will publish its official September employment report on Friday, with analysts expecting the economy to add 168,000 new jobs over the month as wages rise modestly from August and the headline unemployment rate slips to 3.7%.

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