VOA News | Monday, December 4, 2023 
Stock Market Today: Wall Street Loses Ground Ahead Of Key Reports on Job Market

New York — Stocks slipped on Wall Street Monday ahead of some key reports this week on the job market that might provide more insight into the Federal Reserve’s thinking about interest rates. The S&P 500 was off 0.9%. The index is coming off its best month in more than a year, and reached its highest level in more than a year on Friday. The Dow Jones Industrial Average fell 150 points, or 0.4%, to 36,097 as of 11:20 a.m. Eastern. The Nasdaq composite fell 1.5%. Treasury yields were higher, putting some pressure on stocks. The yield on the 10-year Treasury, which influences mortgage rates, rose to 4.29% from 4.21%. Technology companies were among the biggest weights on the market. Microsoft fell 2.6% and Apple fell 1.8%. Spotify surged 7% after announcing its third round of layoffs this year. Uber gained 5.6% after the ride-hailing service was named to join the S&P 500 index. Alaska Air Group slumped 15.6% after announcing it will buy Hawaiian Airlines in a $1.9 billion deal, a tie-up that would test the Biden administration as it fights consolidation in the airline sector. U.S. crude oil prices fell 0.3%. Oil prices have been slipping recently, helping ease pressure on inflation…Read more