Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
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Biz Breakdown: Alaska Air to Buy Hawaiian Air, Spotify Layoffs Again, Stocks Finishing Strong for 2023
Alaska Airlines is buying Hawaiian Airlines, stocks finished at their highest level on Friday and are on the way to concluding 2023 on a positive note as Bitcoin surged. And Spotify is laying off workers, again.
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Spotify cut nearly one-fifth of its workforce, or about 1500 staffers, representing the third round of layoffs this year.
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After rallying for five straight weeks, stocks fell after the opening bell on Monday as investors await labor market data later in the week.
The Great Wealth Transfer
It's the beginning of the great wealth transfer, according to UBS.
Fed Chair: Interest Rates to Remain High For Now
Fed Chair Jerome Powell said higher rates are here to stay for now.
