Stock market today: Dow, S&P 500, Nasdaq rise as weak ADP jobs data reinforces growing Fed rate cut bets

Market Overview - US stocks experienced a slight increase, with the Dow Jones Industrial Average rising 0.9% (over 400 points) and the S&P 500 adding 0.3%, while the Nasdaq Composite climbed 0.2% [1] - The ADP report indicated a surprising decline in private-sector employment, with private employers shedding 32,000 jobs in November, contrary to expectations for a modest gain [2] Economic Indicators - The Institute for Supply Management reported a slight expansion in US services activity in November, with a reading of 52.6%, and the index for prices paid eased to a seven-month low, suggesting a potentially positive sign for inflation [3] Cryptocurrency Market - Bitcoin (BTC-USD) rebounded from a significant slump, rising to a two-week high above $93,000 before retracing some gains [4] Company News - Microsoft (MSFT) shares fell 2.5% after reports indicated the company is lowering its AI sales quotas, raising investor skepticism regarding AI demand [5] - Marvell Technology (MRVL) stock increased nearly 8% following a positive sales outlook and a deal to acquire Celestial AI [6] - American Eagle Outfitters (AEO) shares surged 15% due to a strong start to the holiday shopping season [6]