"Manufacturing Sets Tone for Jobs-Packed Week"

The week kicks off with a focus on manufacturing and jobs data, with the PCE index showing a rise in inflation and the ISM manufacturing survey expected to reveal a 17th straight month of contraction. Investors are eyeing indicators of wage pressure and the tightness of the employment market, with the week culminating in Friday's non-farm payrolls report. Despite manufacturing's small portion of job growth, it may offer insight into the overall jobs trend, while the JOLTS report on Tuesday is expected to provide a better sense of average wage growth.