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US ADP Data Shows Job Losses, Strengthening Fed Rate Cut Expectations
US ADP data shows a job loss of 32,000, fueling expectations for a Fed rate cut, while the Dow saw a modest gain.
US ADP data revealed a loss of 32,000 private sector jobs in November, adding to the growing concerns over a slowing economy. The data strengthens the expectation of a Federal Reserve rate cut in upcoming meetings. Despite this, the Dow rose 0.4% to 47,474 driven by optimism around retail earnings and market anticipation of the Fed’s next move.