In terms of economic data, the week could prove crucial for the Federal Reserve as September's Personal Consumption Expenditures (PCE) index is due out this Thursday, October 31, with the October jobs report published the following morning on Friday, November 1.

Yahoo Finance Fed reporter Jennifer Schonberger lays out the significance of these data sets to the US central bank as officials weigh how much they should cut interest rates by next.

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This post was written by Luke Carberry Mogan.