U.S. stocks rose on Wednesday as expectations of an interest rate cut by the Fed...
- U.S. stocks rose on Wednesday as expectations of an interest rate cut by the Federal Reserve were lifted following the weakest pace of private sector jobs growth in more than nine years in May.
The ADP National Employment Report showed that U.S. private employers added 27,000 jobs last month, much below expectations of a 180,000 increase. Analysts blamed the weakness on heightening global trade tensions. Banking stocks, which typically benefit from a rising interest rate environment, slipped 0.50%, while the broader financial sector fell 0.17%.
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