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US stocks close higher; US Steel slumps while Rivian surge


Published on 2025-01-03 19:21:08 - Investing
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  • Investing.com-- U.S. stock index futures steadied on Thursday evening after losses in tech heavyweights Apple and Tesla saw Wall Street mark a weak start to 2025.

U.S. stock futures showed little change on a specific Friday morning after significant losses in major companies like Apple and Tesla contributed to a downturn on Wall Street. Apple experienced a 2.9% drop in its stock value due to a report suggesting China might expand its iPhone ban to state-run companies and agencies. Tesla's shares fell by 3.2% following a downgrade by analysts at Goldman Sachs, who cited concerns over the company's high valuation. These declines were part of a broader market reaction where the S&P 500 and Nasdaq both closed down by 0.6% and 1.1% respectively. Additionally, the market was influenced by rising bond yields, with the 10-year Treasury yield reaching 4.287%, its highest since 2008, reflecting concerns about inflation and potential Federal Reserve actions.

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