Wall Street pulls near its all-time high

Company Performance - Microchip Technology experienced a significant increase of 12.2% in its stock price after announcing expectations for sales and profit to be at the high end of previously forecasted ranges, with CEO Steve Sanghi indicating better-than-expected business performance and reduced inventory levels [2] - Marvell Technology's stock rose by 7.9% following a stronger-than-expected profit report for the latest quarter, with CEO Matt Murphy attributing the success to demand for data center products and announcing a potential acquisition of Celestial AI for over $3.25 billion [3] - American Eagle Outfitters saw a stock rally of 15.1% after reporting better-than-expected profits and noting a strong start to the holiday shopping season, with increased demand across its brands during the Thanksgiving weekend [7] Economic Indicators - U.S. stocks rose as mixed economic data fueled hopes for an upcoming interest rate cut, with the S&P 500 gaining 0.3% and nearing its all-time high [1] - A report indicated that U.S. employers outside the government may have cut more jobs than they added in November, which, while discouraging for job seekers, increased expectations for a Federal Reserve interest rate cut [4] - A separate report showed stronger-than-expected growth in U.S. services business activity, particularly in retail, finance, and insurance sectors, contributing positively to market sentiment [5] Market Trends - Easing Treasury yields in the bond market contributed to stock market gains, with the yield on the 10-year Treasury falling to 4.06% from 4.09% [6] - The Institute for Supply Management's survey reported that prices were increasing at their slowest rate since April, addressing concerns that interest rate cuts could worsen inflation [6] - Lower interest rates are generally favorable for investment prices, as evidenced by Bitcoin's rise above $93,000 after a recent decline [6]