Forget the August Jobs Report; September Rate Hike Depends on S&P 500

A September rate hike from the Federal Reserve hinges more on where the S&P 500 is, rather than economic data, such as the August jobs report, according to one expert.
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A September rate hike from the Federal Reserve hinges more on where the S&P 500 is, rather than economic data, such as the August jobs report, according to one expert. 'Yes, the jobs report matters; one jobs report isn't going to push the Fed over the edge,' said Ian Winer, head of equity trading at Wedbush Securities. 'If it's strong enough and they come in on September 20 and the S&P is trading where it is right now, I think they can raise rates.' TheStreet's Scott Gamm reports from Wall Street.