Goldman Sachs Research previews the October US jobs report due on Friday.

"We expect a 75k increase in nonfarm payrolls in October (vs. 65k consensus)....Our forecast reflects a solid signal from alternative employment data. We expect the unemployment rate to stay at 4.2%, but with risks skewed to the downside reflecting potential convergence to the lower level implied by continuing claims," GS notes.

"We forecast a 0.3% increase in average hourly earnings in October, reflecting neutral calendar effects.  Our wage growth tracker fell to just 3.0% year-over-year in Q3 after the ECI was released last week," GS adds.