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Stocks were little changed Thursday as investors grew more confident the Federal Reserve will cut interest rates in December. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all slipped about 0.1%.
Investors focused on data showing a softening labor market, including a report of increased job cuts in November. This has led markets to price in an 89% chance of a rate cut at the Fed’s December 10 meeting. Tech stocks lagged, with Microsoft falling after a disputed report about AI sales targets, though it recovered some losses.
Investors are now awaiting key inflation data and a consumer sentiment survey due Friday.
