With next Fed interest rate cut in sight, Wall street rebounds, a bit

Meanwhile, the University of Michigan’s consumer survey showed the headline sentiment index jumping from 51 to 55, the highest since August.

But economic data released throughout the week painted a mixed picture.

Wall Street extended its rebound after November’s pullback , although with less momentum than the previous week, as investors' risk appetite remained supported by expectations of another Federal Reserve rate cut.

Investors widely expected the Fed to deliver a 25-basis-point cut on Dec. 10 — the third consecutive reduction — with market-implied odds approaching 90%.

Economic data released throughout the week painted a mixed picture. ADP reported private employers cut 32,000 jobs in November, while Challenger, Grey & Christmas recorded 71,321 announced layoffs last month.

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