The August jobs report is highly anticipated as investors look for signs of recovery in the U.S. labor market after July's weak figures. The July report showed a slowdown in job creation and a rise in unemployment, triggering recession fears. However, analysts from Bank of America and Goldman Sachs suggest that the situation may not indicate a recession, citing temporary factors and predicting a rebound in August. The SPDR S&P 500 ETF Trust (SPY) saw a sell-off following July's report.