The Business Week Ahead

175,000 is Econoday's consensus for August nonfarm payroll growth which would follow July's 255,000 gain and June's outsized jump of 292,000. The high end estimate is 215,000 which would be well over 200,000 and more than enough to raise the odds for a September FOMC rate hike. Data going into Friday's report will offer the latest on existing homes with the pending home sales report and an August update on manufacturing with the ISM report, both on Tuesday. Construction spending will also be out on Tuesday and pent-up strength is expected.