Stocks opened slightly lower on Wall Street on Monday as investors awaited key reports on the job market that could provide insight into the Federal Reserve's approach to interest rates. The S&P 500 was down 0.6%, coming off its best month in over a year. The Dow Jones Industrial Average fell 107 points, and the Nasdaq composite dropped 0.9%. Treasury yields were higher, while crude oil prices were down about 1%.

One notable development in the market was the announcement that Alaska Airlines would acquire Hawaiian Airlines in a $1.9 billion deal. This acquisition will test the Biden administration's stance on airline consolidation. Hawaiian Airlines saw a significant surge in its stock price following the news of the deal, while Alaska Air Group's stock tumbled nearly 12%.

In other news, Spotify experienced a jump in its stock price after announcing its third round of layoffs this year. The company cited high interest rates as the reason for the job cuts. Spotify plans to cut 17% of its workforce, which amounts to approximately 1,500 employees.

Moving on to global markets, European markets saw mixed results, with France's CAC 40 down 0.3%, Germany's DAX up 0.1%, and Britain's FTSE 100 declining 0.4%. In Asia, China Evergrande's Hong Kong shares gained 9.2% after a Hong Kong court postponed a hearing on its debt restructuring plan. Hong Kong's Hang Seng lost 1.1%, while the Shanghai Composite edged 0.3% lower. Japan's Nikkei 225 shed 0.6%, Australia's S&P/ASX 200 added 0.7%, and South Korea's Kospi rose 0.4%.

In the energy sector, benchmark U.S. crude oil prices lost 43 cents, trading at $73.64 a barrel on the New York Mercantile Exchange. Brent crude, the international standard, fell 44 cents to $78.44 a barrel.

In the currency market, the U.S. dollar declined against the Japanese yen, trading at 146.57 yen compared to 146.76 yen. The euro also fell against the dollar, costing $1.0869, down from $1.0885.

Bitcoin continued its comeback, surpassing the $40,000 mark for the first time since April 2022. The digital currency has seen a significant increase of over 150% in 2023, starting the year around $16,600.

Looking back at Friday's market performance, stocks rose as the market enjoyed its best month in over a year. The S&P 500 gained 0.5%, the Dow Jones Industrial Average rose 0.6%, and the Nasdaq added 0.3%. Industrial stocks, such as Caterpillar and Union Pacific, were among the biggest gainers.

Overall, investors are hopeful that the Federal Reserve will maintain its current stance on interest rates and inflation control. Recent data on inflation and economic growth have supported these expectations. The market will closely watch upcoming reports on job openings, weekly unemployment claims, and monthly jobs data to gauge the strength of the labor market.

As December begins, stocks are on track to end the year with solid gains. The S&P 500 is up over 19% for the year, while the Nasdaq composite has seen a 36% increase. Smaller-company stocks, represented by the Russell 2000 index, have also turned higher, gaining more than 5% for the year.