**Next week** could set **October's** tone. 
**
Five US catalysts in five days** could reshape expectations for the **Fed**.

Monday: **ISM Services PMI** at **55.7**, with services inflation hot. 

Tuesday: **ADP employment** tests whether the **US labor market** is cracking.

Wednesday: **FOMC minutes**. 

Thursday: **jobless claims**. 

Friday: **Michigan inflation expectations**, after one-year expectations jumped to **4.6%**.

**Hot inflation** keeps rate-hike fears alive, while weak jobs data raises concern that the economy is breaking.

**[@futures](https://t.me/futures)