Here comes the jobs report ...

Jasper Juinen/Getty Images

The Bureau of Labor Statistics is set to release the September jobs report at 8:30 a.m. ET.

Economists forecast another robust month of job gains. Employers likely added 185,000 nonfarm payrolls on net while the unemployment rate returned to an 18-year low of 3.8%, according to estimates compiled by Bloomberg.

As usual, the focus will be on wages - but even more so this time.

Earlier this week, Amazon announced that it was raising its minimum wage to $15 an hour, more than twice the federal mandate of $7.25. That's obviously not going to move the needle on last month's wage number, but serves as a key anecdote into the pressure companies are under - politically and due to a tight labor market - to pay workers more.

Average hourly earnings are forecast to have risen 0.3% month-on-month and 2.8% year-on-year.

Investors are also watching the wage-growth number closely amid a sell-off in the bond market this week. Bond yields rise when prices fall, and they spiked to the highest level in over seven years after a strong payroll report from ADP and bullish comments from the Federal Reserve Chairman Jerome Powell.

"The US economy is on fire right now and the bond market has been underestimating just how hot the economy is," said Lawler Jasper, the head of research at London Capital Group. "What we are seeing here is that complacency start to fade."

More to come, refresh this page for the latest at 8:30 a.m. ET.

Now read:

• Some of Wall Street's biggest firms are already waving red flags on the stock market's newest sector
• A fund manager who's crushing nearly all of her peers breaks down 3 under-the-radar stocks driving her strong performance
• UBS details all the possible outcomes of the midterm elections and why a so-called blue tsunami could be the most devastating for stocks