Another pivotal U.S. jobs report this week will determine the market’s direction, and Bank of America strategists think it is likely to push stocks to more record highs. “Risk is to the upside, absent [a] big miss,” the Wall Street firm said in a note to clients Sunday. “We think the data will reinforce our outlook for a soft landing. Economic momentum is cooling, not crumbling.” The September jobs report is due Friday, with the economy expected to have added 144,000 jobs, up from 142,000 jobs in August, according to a Dow Jones estimate. The unemployment rate is forecast to have held steady at 4.2%. Bank of America noted that because nonfarm payroll data had been weak in July and August, the bar is low for a relief rally. The bank’s estimate is slightly above the consensus. It projects payrolls grew by 150,000 in September, with the unemployment rate at 4.2%. “We think slight weakness may be overlooked by investors and only sizable misses reignite recession fears. On the other hand, strong prints can further boost confidence in a soft landing,” the bank said. The labor market has been more closely scrutinized in recent months amid signs of weakness, which partly prompted the Federal Reserve to make a supersized rate cut to kick off its easing campaign. The central bank has been trying to accomplish the tricky task of restoring price stability without any painful spike in unemployment that has historically accompanied a fight against high inflation. For options traders, Bank of America is recommending buying calls on cyclical equities, which currently offer the best value across asset classes. It said options on SPDR S & P Regional Banking ETF (KRE) are the most attractive right now to play the jobs data.