This report comes from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

China’s GDP will grow by 5% in 2024
According to China's National Bureau of Statistics, China's economy will grow by 5% year-on-year in 2024, in line with Beijing's official target of "around 5%." Gross domestic product grew 5.4% in the fourth quarter, higher than the 5.0% forecast in a Reuters poll of economists, as Beijing's stimulus measures kicked off. Still, analysts hope for more policies to boost China's economy.

S&P 500 ends three-day winning streak
U.S. stocks fell on Thursday, S&P 500 Index Ending a three-day winning streak. Treasury yields fell further as inflation concerns subsided. Asia-Pacific stock markets were mixed on Friday. Mainland China and Hong Kong stocks rose on the release of China's 2024 GDP data. Japanese Nikkei 225 Index Down 0.45% Nintendo The company's shares fell about 4.6% after announcing the successor to the Switch console.

apple falls
apple The stock fell 4% on Thursday and is down nearly 12% from its latest peak in 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
Scott Bessant, U.S. President-elect Donald Trump's pick for Treasury secretary, testified before the Senate Finance Committee on Thursday. During the meeting, hedge fund manager Bessant said Trump's proposed policies would not lead to inflation, called U.S. spending "out of control" and poured cold water on the idea of ​​a possible U.S. digital currency.

(PRO)Tariffs threaten retail stocks
Wolfe Research said some consumer goods stocks are most at risk from U.S. President-elect Donald Trump's plans to impose tariffs. The research firm said these are popular apparel and home furnishings retailers whose stock investors have yet to price in tariff risk.

Apple shares fell on Thursday, snapping a three-day winning streak for the S&P.

Reports of declining iPhone sales in China weighed on Apple's stock price, leading to its worst day since August 5. Other "Magnificent 7" stocks followed suit: Tesla fell 3.4%, NVIDIA lost nearly 2%, and letter down about 1.4%.

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

The composite index was unable to sustain its gains from Wednesday as all of the "Magnificent 7" stocks - which drove more than half of the S&P 500's 2024 gains - ended in the red.

this Standard & Poor's Down 0.21% Dow Jones Industrial Average Technology stocks fell 0.16% Nasdaq Composite 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 Reported earnings that beat expectations. But they ultimately weren't enough to lift the index, suggesting stock market performance still hinges on tech stocks.

"Bank earnings were definitely positive to start with, but it seems like there's more to it than that and that's where it's going 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 on Thursday that if the inflation data were good, he would "definitely see a rate cut happening sooner than the market is pricing in."

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.