Peter Schacknow, Senior Producer, CNBC Breaking News Desk
Wall Street's ever-changing mood has swing back in a positive direction, but whether it stays that way will depend largely on where this morning's September employment report comes in.
Stocks have risen for three straight sessions, putting the week in the plus column for the major averages and negating October's extremely shaky start for stocks this past Monday.
That jobs report is out at 08:30am ET, with consensus forecasts calling for nonfarm payroll gains of 60,000, with the unemployment rate remaining steady at 9.1 percent.
Though they'll be largely overshadowed by the employment numbers, there are two other government reports out today - August wholesale trade at 10:00am ET, and August consumer credit at 3:00pm ET.
Wholesale inventories are seen rising 0.7 percent following July's 0.8 percent increase, and consumer credit is expected to have risen by $7.0 billion following an August jump of $12.0 billion.
The corporate earnings calendar is virtually blank today, the calm before the earnings season storm begins with the release of Alcoa's quarterly numbers next Tuesday.
Oracle (ORCL) could be a stock to watch this morning, after agreeing to pay the U.S. almost $200 million to resolve GSA claims that it failed to meet contractual obligations in a software agreement struck back in 1998.
The company denies that it ever committed fraud, and settled the suit to avoid the cost and distraction of a trial.
We'll watch shares of European banks that trade in the U.S. today, after Moody's downgraded a dozen UK banks and nine Portuguese banks.
Firearms maker Smith & Wesson (SWHC) is also on the watch list, rising more than 4% in after-hours trading after saying it will divest itself of its security business.
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