Expected Employment Boost Raises Rate Hike Chances

U.S. job growth likely accelerated in October after two straight months of tepid gains, with wages also picking up in a show of domestic strength that would bolster prospects for a December interest rate hike from the Federal Reserve. A Reuters survey forecast nonfarm payrolls increasing 180,000, well above the 139,000 jobs per month average for August and September. Should payroll gains meet expectations, it would add to robust automobile sales in painting an upbeat picture of the economy at the start of the fourth quarter.