Stocks Slide, Oil Hits Lows as Market Rally Falters

US stocks slipped as oil prices hit 5-month lows and investors reacted to signs of economic malaise, with the S&P 500 falling 0.4% and the Dow Jones dropping 0.2%. Oil prices declined due to weak demand, with West Texas Intermediate falling 4% to settle at $69.38 per barrel. In other news, Google launched its new generative AI model, Gemini, which can analyze text, audio, video, images, and code. Additionally, investors are awaiting the November jobs report, which is expected to show an acceleration in job growth due to the return of striking workers. However, the leisure and hospitality sector, which was a major contributor to the post-pandemic job market boom, is cooling off, indicating slower payroll growth in 2024.