"US Futures Drop as China Data and Rate Jitters Weigh on Market"

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Source: Investor's Business Daily
"US Futures Drop as China Data and Rate Jitters Weigh on Market"
Photo: Investor's Business Daily
TL;DR Summary

Dow Jones futures fell amid weak China economic data, while Tesla cut Model Y prices in Europe following China price cuts, causing TSLA stock to fall slightly. Interactive Brokers and Charles Schwab reported mixed earnings, and the stock market rally retreated after a solid bounce last week. Nvidia and AMD rallied on bullish analyst reports, with Microsoft closing with a higher valuation than Apple for the first time in two years. China's Q4 GDP rose 5.2%, just below expectations, spurring calls for stimulus, but Premier Li Qiang signaled no major stimulus. Dow Jones futures fell 0.4%, and the 10-year Treasury yield edged up to 4.08%. Interactive Brokers earnings missed Q4 views, while Schwab earnings slightly topped but revenue fell short. The stock market saw modest losses, with Nvidia and AMD stock rising, and Microsoft stock edging up while Apple stock fell.

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