August's Personal Consumption Expenditures (PCE) data showed inflation continuing to ease toward the Federal Reserve's 2% target. This positive indicator sent small caps (^RUT) rallying, performing better intraday than the S&P 500 (^GSPC). Heading into next week, all eyes will be September jobs report, as it will give investors key insight into the health of the labor market.

Yahoo Finance Markets Reporter Josh Schafer joins Asking for a Trend to break down his top takeaways from the trading day.

For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.

This post was written by Melanie Riehl