US stock markets anticipate a slight increase Thursday, fueled by anticipation of weekly unemployment figures and US manufacturing activity data. China's economic indicators show some improvement, while UK house prices remain strong. Apple takes center stage with rare discounts on iPhones in China, reflecting growing competition from local brands.
Wall Street is expected to trade slightly higher on Thursday ahead of the release of weekly unemployment figures and key US manufacturing activity data. The equivalent Chinese numbers showed some improvement, while UK house prices indicated a resilient sector. Apple will be in the spotlight as the tech giant offers rare discounts on its iPhones in China.
Apple is offering discounts on its latest iPhone models in China, a rare move that points to rising competition from domestic rivals in the world's largest smartphone market. The promotion runs from Jan. 4-7, according to the company’s website, and applies to several iPhone models. Apple is grappling with declining market share in the important Chinese market, with competition from local manufacturers becoming more intense. Huawei has emerged as a particularly strong challenger, and it cut the prices of a variety of high-end devices, including mobile phones, over the weekend on one of China's leading e-commerce platforms. Apple briefly fell out of China's top five smartphone vendors in the second quarter of 2024 before recovering in the third quarter. That said, its smartphone sales in China still slipped 0.3% during the third quarter from a year earlier, while Huawei's sales surged 42%, according to research firm IDC.The major averages handed back some gains in the final days of 2024, but still ended with solid returns. The US stock markets could struggle to continue posting such strong gains in 2025 given the Federal Reserve has signaled a more cautious stance to cutting interest rates.Chinese manufacturing activity grew in December, but at a slower than expected rate, suggesting recent stimulus measures are struggling to boost the second largest economy in the world.The private survey comes just days after government PMI data also showed the manufacturing sector expanded in December, but at a slightly slower than expected pac
APPLE CHINA ECONOMY STOCK MARKET MANUFACTURING
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