US stocks moved higher on Wednesday as a flurry of economic data kept expectations elevated for an interest rate cut by the Federal Reserve next week while a fall in Microsofts shares held gains in check The record-long 43-day US government shutdown kept investors in the dark about official data and hampered the ability to gauge the likely path of interest rates from the Federal Reserve But the backlog is now being cleared along with data from non-governmental sources The Institute for Supply Management said US services activity was little changed in November at 526 versus 524 in October while the prices paid component dipped but remained elevated The reading comes ahead of the delayed personal consumption expenditures report the Feds preferred inflation gauge on Friday Separately the ADP National Employment Report showed US private payrolls unexpectedly declined in November With official employment reports for October and November due only after the central banks policy announcement market participants have placed more weight than usual on private-sector data
