Economics

S&P Futures are displaying positive gains this morning. The key economic event overnight was the China GDP reading which showed +5% expansion for 2024. RIVN said it closed on a loan agreement with the DOE. Starboard Value has taken a 7.7% stake in QRVO. Monday is a holiday as Trump takes office. President Trump is expected to announce a host of Executive Orders on Monday related to tariffs on China, Canada and Mexico, Immigration deportations and Bitcoin. Housing starts data is out this morning as 30 yr fixed rates average 7.37%. European shares are showing strong gains due to China data and expectations for rate cuts. Oil prices are higher and on track for a 2% weekly gain.

S&P Futures are trading lower this morning as markets react to rising Treasury bond yields and rising inflation expectations. The market is not pricing in less than 25 basis points in rate cuts for 2025. Markets will be paying close attention to the pending PPI and CPI reports due out this week. Also in focus will be a host of key earnings reports as Earning Season gets underway. The Biden Administration released their new AI chip export restrictions this morning. China’s exports came in extremely strong which will be a source of contention for the Trump Administration. European shares are falling this morning and oil prices continue to display strong gains in the pre-market.