Gold and bitcoin have both dropped from their highs for the day during Monday trading. While gold is currently down by 2% to about $2,024.19 an ounce after briefly peaking above $2,100 on Sunday evening in New York, bitcoin is up less than 5% for the session at $41,559 after reaching over $42,000 earlier in the day.

Uber’s stock saw an increase of more than 5% on Monday, as Wall Street analysts anticipate more growth for the ride-sharing company once it joins the S&P 500. Analysts from Oppenheimer, led by Jason Helfstein, mentioned that following Uber’s inclusion, they expect UBER to pivot towards growth and share buybacks, increasing the sentiment for growth and return in 2024.

Technology stocks impacted the S&P 500 during Monday’s session with the information technology and communication services sectors being the most affected, each falling more than 2%. On the other hand, the material sector experienced a 1% decline, reflecting the negative impact of the slump in technology shares on the broader index.

Meta Platforms’ co-founder Mark Zuckerberg sold about 682,000 shares in November, the first time since November 2021, as Meta’s shares soared 170% due to investor enthusiasm towards its artificial intelligence efforts.

Factory orders dropped slightly more than expected in October, following a 2.3% increase in September, according to a report from the Commerce Department, indicating a potential slowdown for the U.S. economy at the end of the year.

Wharton professor Jeremy Siegel believes the Federal Reserve should acknowledge the possibility of rate cuts, given the softness of economic data in the last four weeks, in December’s meeting.

The three major indexes, Dow, S&P 500, and Nasdaq Composite all opened Monday’s trading session down, as the inverse correlation between the S&P 500’s performance and the movement in the 10-year Treasury yield was the strongest in more than 20 years.

Coinbase, Uber Technologies, and General Motors’ stocks surged in premarket trading as Bitcoin exceeded the $40,000 mark while stocks associated with Bitcoin, like Marathon Digital and Riot Platforms, also saw an increase.

Shares of music streaming platform Spotify rose more than 1% after the company announced job cuts amounting to 1,500 roles and CEO Daniel Ek said the company took on too many employees in 2020 and 2021.

Advances in technology related to Bitcoin have given rise to increasing bullishness as Bitcoin peaked at $42,000, a new high for the year, anticipating the potential U.S. approval of a bitcoin exchange-traded fund and bet the Federal Reserve will start cutting rates next year.