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US Equity Markets Close Higher After Surprise Drop in Private-Sector Jobs
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US equity markets closed higher as the likelihood of a Federal Reserve interest rate cut increased following a surprise drop in private-sector jobs. Private-sector employment fell by 32,000 in November, contrary to expectations. The US services index rose slightly, and crude oil prices increased. Microchip Technology shares surged 12% after positive earnings forecasts, while Alexandria Real Estate Equities shares dropped 10% due to a dividend cut.
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