Stocks higher, jobs data in focus, 2-year auction, 3M, Hurricane Idalia

^{Five things you need to know before the market opens on Monday August 28:}

1. -- Stocks edge higher with jobs data in sight following hawkish Powell speech

Stocks are looking at modest gains heading into a key week of jobs and inflation data and ahead of what has traditionally been the toughest month of the year for overall market performance.

2. -- Week Ahead on Wall Street: Jobs, inflation and earnings ahead as September slide looms

Jobs and inflation data take center stage again this week after Fed Chairman Jerome Powell warned of the need for 'higher for longer' interest rates in the red-hot U.S. economy.

3. -- 2-Year Treasury auction provides first test for hawkish Fed rate stance

The Treasury will sell $42 billion in new 2-year notes later today following a stern warning on potential rate hikes from Federal Reserve Chairman Jerome Powell..

4. -- 3M surges on report of $5.5 billion earplug settlement with US Military

3M has reportedly reached a tentative agreement to pay $5.5 billion to settle a series of lawsuits linked to allegedly faulty earplugs it sold to the U.S. military.

5. -- Florida braces for Cat 3 Hurricane as Tropical Strom Idalia gathers speed

 Tropical Storm Idalia, which is moving swiftly over the warm waters of the Gulf of Mexico, could slam the west coast of Florida as a Cat 3 Hurricane as early as Wednesday morning.