Inflation, economic growth for rest of 2021 should be clearer after October jobs report

October jobs numbers will join other key financial reports this week as the state of the late-year 2021 economy becomes further defined.

A week after stocks hit a record high, a slew of financial markers to come this week will help define the state of the U.S. economy as the year draws to a close.and CVS Health will report earnings results on Tuesday and Wednesday, respectively. Also to come this week is the service sector index for October from the Institute for Supply Management. That sector accounts for the bulk of economic activity and became roiled by the late-summer surge of COVID-19 cases.

However, inflation remains a concern for many Americans who have seen an uptick in costs everywhere from the grocery store to big-box merchants. The S&P 500 inched up 0.1 percent as of 3:27 p.m. Eastern after wavering between small gains and losses. TheIndustrial Average rose 48 points, or 0.1 percent, to 35,867 and the Nasdaq rose 0.4 percent. The three indexes are on pace for more all-time highs.

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