5 issues to know earlier than the inventory market opens Monday

Wall Road hopes shares can maintain a gentle climb this week after a stellar November. The S&P 500 has notched a five-week profitable streak, hitting its highest degree since March 2022 on Friday. The Dow Jones Industrial Common and Nasdaq Composite have additionally climbed for 5 straight weeks. November jobs information due Friday will play a significant function in whether or not these runs proceed. The quantity will assist to find out whether or not the Federal Reserve will hold rates of interest regular at its coverage assembly subsequent week — or take into account chopping them subsequent yr. Comply with stay market updates right here.

Alaska Air has agreed to purchase Hawaiian Airways for $1.9 billion. Alaska CEO Ben Minicucci advised analysts that he hopes the deal for Hawaiian, which has struggled partially because of the Maui wildfires and fewer journey to and from Asia, will assist Alaska compete with the 4 carriers that dominate the U.S. market. However consolidation additionally poses dangers to the deal. The Biden administration Justice Division prevailed in its bid to dam a regional partnership between JetBlue and American Airways earlier this yr, and it additionally sued to cease JetBlue’s acquisition of Spirit Airways.

Music streaming service Spotify will lay off 17% of its workforce, or about 1,500 workers. The corporate is taking “substantial motion to rightsize our prices,” after a interval of enlargement whereas capital was simpler to entry, CEO Daniel Ek advised workers in an electronic mail. The job cuts comply with a whole lot extra layoffs at Spotify earlier this yr. The corporate has lately moved to develop construct its podcast and audiobooks companies.

Gold costs touched a file excessive Monday earlier than giving up some floor. Spot gold rose above $2,100 an oz. because the steel’s value continues a gentle climb. Geopolitical dangers can enhance the steel’s worth, and the battle between Israel and Hamas has partially fueled the latest rise. Waiting for subsequent yr, potential Fed rate of interest cuts — and a decrease U.S. greenback which will include them — may enhance gold much more.

Retailers loved a powerful Thanksgiving buying weekend. It doesn’t essentially imply they’ll have a spectacular vacation season. The five-day buying rush that topped the business’s expectations, with 8% on-line spending progress and file site visitors, could not portend a blockbuster December forward. The power could mirror that cost-conscious customers have been trying to find early offers and in search of these reductions on-line. A stretch of chilly climate could have additionally triggered shoppers to purchase winter clothes they didn’t buy throughout a hotter fall.

– CNBC’s Yun Li, Leslie Josephs, Rebecca Picciotto, Ryan Browne, Lee Ying Shan and Melissa Repko contributed to this report.

— Comply with broader market motion like a professional on CNBC Professional.