The stock market awaits Friday's February jobs report. 

Economists expect nonfarm payrolls to rise by 205,000. The February jobs report is released on Friday at 8:30am.

A pickup in wages could send bank stocks higher, as it may signal a faster pace of Federal Reserve rate hikes. Banks earn more money when rates rise.

In February, average hourly earnings rose 2.9% year-over-year.

A rise in wages may spark volatility in the stock market, causing investors to take profits on tech stocks, which have dominated the market so far this year.

Here's what former U.S. Labor Secretary Robert Reich expects from Friday's jobs report:

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