China’s GDP reaches official target | Real Time Headlines

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China’s GDP will grow by 5% in 2024
China’s economy grows by 5% According to the National Bureau of Statistics of China, in 2024 year-on-year National Bureau of Statisticsin line with Beijing’s official target of “around 5%”. As Beijing launched stimulus measures, gross domestic product (GDP) grew 5.4% in the fourth quarter, higher than the 5.0% forecast in a Reuters poll of economists. More policies to boost national economy.

S&P 500 ends three-day winning streak
US market Thursday’s decline,and S&P 500 Index Ending a three-day winning streak. Treasury bond yield further retreat Inflation concerns subsided. Asia Pacific Stock Markets friday mix. Mainland China and Hong Kong markets rose on the release of China’s 2024 GDP data. Japanese Nikkei 225 Index Down 0.45% Nintendo After the announcement, the stock price fell approximately 4.6%. The successor to the Switch console.

apple falls
apple Shares fell 4% on Thursday, a huge loss Up nearly 12% from the stock’s recent peak December. Market research firm Canalys reported on Thursday that the iPhone maker has fallen to third place in terms of smartphones sold in China in 2024, behind local manufacturers Vivo and Huawei.

Potential U.S. Treasury secretary testifies
U.S. President-elect Trump’s pick for Treasury Secretary Scott Bessant Testifying before the Senate Finance Committee on Thursday. During the meeting, hedge fund manager Bessant said Trump’s proposed policies Will not cause inflationdescribing U.S. spending as “out of control,” and poured cold water on the possibility of US digital currency.

(PRO)Tariffs threaten retail stocks
Wolfe Research said some consumer goods stocks are most at risk from U.S. President-elect Trump’s plan to impose tariffs. These Are Popular Clothing and Home Furnishings Retailers Among Stock Investors Tariff risk has not yet been taken into accountthe research firm said.

Reports of declining iPhone sales in China weighed on Apple’s stock price, leading to its worst day since August 5. Tesla fell 3.4%, NVIDIA loss of nearly 2%, and letter down about 1.4%.

Apple is the worst-performing stock among the Big Seven so far in 2025.

Push with all the ‘Magnificent 7’ stocks More than half of S&P 500 gains in 2024 – Ending in the red, the broad-based index was unable to sustain its gains from Wednesday.

this Standard & Poor’s Down 0.21% Dow Jones Industrial Average Technology stocks fell 0.16% Nasdaq Indexe fell 0.89%.

That’s despite a strong start to earnings season. FactSet data shows that 77% of companies that reported beat estimates.

Bank of America and Morgan Stanley report Exceeded expectations benefit. But they were ultimately not enough to lift the index, showing that stock market performance still depends on technology stocks.

“Bank earnings certainly started out positive, but it seems like there’s more to it than that, and that’s what’s happening today,” said Keith Buchanan, senior portfolio manager at Globalt Investments.

That said, if inflation is brought under control later this year, tech stocks and the market could rise.

Fed Governor Christopher Waller told CNBC In an interview on Thursday, he “certainly would see a rate cut happening sooner than the market is pricing in” if the inflation data is good.

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

If that happens, Apple’s stock price, along with other rate-sensitive tech stocks, could defy gravity and soar again.

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