Fed unlikely to cut interest rates until July next year: Markets Wrap

Stocks advanced after data on private payrolls added to speculation the Federal Reserve is done with its aggressive hiking campaign and will start cutting interest rates next year.

Just a few days ahead of the US jobs report, another economic reading showed the gradual cooling in the labour market that the Fed would like to see. Private payrolls increased 103,000 last month, trailing estimates.

The figures gave further credence to Wall Street’s dovish bid, with ...