Monika Rosen-Philipp: Fed meeting, US job data, inflation - what does this mean for Wall Street?

This week came with two important dates from the US: the Midterm Election and the Fed meeting. Both had only a muted effect on Wall Street. "In both cases, the outcome was largely expected and at the end of the day the market will return to the fundamental data." Interest rates have not been raised but it has been suggested that the next hike will be in December. How important will good labor market data and inflation be? What effect does that have on Wall Street?