US stocks close higher; US Steel slumps while Rivian surge

Stocks and Investing Stocks and Investing

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US stocks close higher; US Steel slumps while Rivian surge

^{Published on 2025-01-03 19:21:08 - Investing}

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.

Read the Full Investing Article at:
[ https://ph.investing.com/news/stock-market-news/us-stock-futures-steady-after-apple-tesla-losses-dent-wall-st-1599492 ]

N@N

US stocks close higher; US Steel slumps while Rivian surge