The Conference Board (CB) released its employment trends index for the U.S. on Tuesday. The index rose to 128.82 in August from 127.64 in July. July's figure was revised down from 127.89.

"The large increase in the Employment Trends Index in August suggests that a significant moderation in employment growth is unlikely to occur in the coming months. With solid job growth expected to continue, the unemployment rate is likely to go below 5 percent by year's end," Gad Levanon, director of macroeconomic research at the CB, said.