The Federal Open Market Committee is most likely to cut interest rates again to 4.25% to 4.5% on December 18 according to fixed income markets.

Private-sector hiring continues to slow, but workers are finding pay increases for remaining in their current positions.

Two Federal Reserve policymakers on Tuesday said they believe inflation is heading down to the U.S. central bank's 2% target and the job market is "solid," even as neither gave any clear steer on whether they'll support another interest rate cut later this month.