Wall Street bounced back Wednesday after Tuesday's sharp selloff in AI-driven stocks, as investors bought the dip amid solid corporate earnings and growing signs that the Federal Reserve may be nearing another interest rate cut.
The ADP National Employment Report — the key labor gauge in the absence of official government data during the ongoing shutdown — showed that private employers added 42,000 jobs in October, rebounding from the 32,000 jobs lost in September and beating economists’ expectations for a 25,000 gain.
