Stock Market Today: Futures Slip to Start the Week; Bitcoin Price … – The Wall Street Journal


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Dec. 4, 2023 at 10:35 AM EST
Bitcoin has jumped above $41,000. Gold is holding near its record set last week. But broader markets don’t look as bright on Monday.
Stocks turned lower and the rapid ascent in bond prices halted. Oil extended its recent slide.
Uber Technologies shares rose after S&P Global said the ride-hailing company will join the S&P 500 index. Hawaiian Airlines stock is heading skyward, boosted by a $1 billion takeover by its Alaskan rival.
And there’s bad news for Spotify employees (but good news for investors): The stock rose on news that the streaming giant is laying off 17% of staff in an attempt to become profitable.
In early trading:
Stocks slipped. The S&P 500, Dow industrials and Nasdaq Composite all opened lower. The Dow was recently down more than 100 points.
Ten-year Treasury yields rose after settling at 4.225% Friday. Yields have slumped recently on bets that the Fed will cut interest rates next year.
Overseas markets broadly weakened. Mining stocks weighed on the Stoxx Europe 600. Indexes ended lower in Japan, Hong Kong and mainland China. India’s S&P BSE Sensex, however, rose to an all-time high after Prime Minister Narendra Modi’s ruling party won elections in three major states.
The price of bitcoin climbed above $41,000, putting it on course for its highest end-of-day level since April 2022.
—By Joe Wallace and Eric Wallerstein
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