China’s GDP meets the official target

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In 2024, China’s GDP increased by 5%.
China’s economy grew by 5% compared to 2024, according to China National Bureau of Statisticswhich is in line with Beijing’s official target of “around 5%”. Gross domestic product expanded 5.4% in the fourth quarter, above the 5.0% estimate in a Reuters poll of economists, as stimulus measures kicked in in Beijing. However, analysts still hope for more policies to stimulate the country’s economy.

The S&P 500 snapped a three-day winning streak
US markets fell on Thursdaywith S&P 500 snapped his three-day winning streak. Treasury yields retreated further to reduce inflation fears. Asia-Pacific stocks were mixed on Friday. Markets in mainland China and Hong Kong rose after China’s 2024 GDP data was released. of Japan Nikkei 225 lost 0.45% as Nintendo shares fell about 4.6% after the announcement of a successor to its Switch console.

The apple falls
an apple shares fell 4% with losses on Thursday up nearly 12% from the stock’s most recent peak in December. This comes after research firm Canalys published a report on Thursday that said the iPhone maker would drop to third place in terms of smartphone sales in China in 2024, behind homegrown makers Vivo and Huawei.

Prospective US Treasury Secretary Testifies
Scott Bessant, US President Donald Trump’s nominee for Treasury Secretary, testified Thursday before the Senate Finance Committee. During the session, Bessent, a hedge fund manager, spoke about Trump’s proposed policies will not lead to inflationdescribed US spending as “out of control“, and poured over the idea of ​​the possible The digital currency of the United States.

(PRO) Tariffs threaten retail stocks
Several consumer staples stocks are most at risk of being hit by US President-elect Donald Trump’s plan to impose tariffs, according to Wolfe Research. These are popular investor-owned clothing and home goods retailers tariff risks were not taken into accountthe research firm said.

Reports of falling iPhone sales in China dragged down Apple shares, sending them to their worst day since August 5. Other actions of the “Magnificent Seven” also fell in love: Tesla retreated 3.4%, Nvidia lost almost 2%, and Alphabet decreased by approximately 1.4%.

In 2025, Apple’s stock was the worst among the Magnificent Seven.

With all the supplies of the “Magnificent Seven” – who were traveling more than half of the S&P 500’s gains in 2024 — ending the session in the red, the broad index failed to sustain its forward momentum from Wednesday.

The S&P slipped 0.21%, art Dow Jones industrial index lost 0.16% and tech Nasdaq Compositee fell by 0.89%.

Despite the earnings season getting off to a good start. Of the companies that reported, 77% beat expectations, according to FactSet data.

Bank of America and Morgan Stanley reported expectations-beating salary. But in the end, they weren’t enough to lift the indexes, suggesting that the stock market’s performance is still dependent on technology.

“The gains started with banks being decidedly bullish, but it looks like more will be needed than that, and today’s action looks like that,” said Keith Buchanan, senior portfolio manager at Globalt Investments.

However, tech stocks and markets could rally if inflation comes under control later in the year.

The head of the US Federal Reserve System, Christopher Waller told CNBC said in an interview on Thursday that if the inflation data is benign, he “could certainly see a rate cut sooner than perhaps the markets have priced it in.”

On a more optimistic note, Waller even suggested there could be “four cuts, three cuts, depending on what the data tells you this year.”

If that were to happen, Apple shares, along with other bet-driven tech stocks, could defy gravity and soar again.

— CNBC’s Jeff Cox, Hakyun Kim and Sarah Min contributed to this report.