Stocks Fall After Brief New Year Rally

Traders work on the floor of the New York Stock Exchange (NYSE) on the first day of trading of the new year on January 02, 2025 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe. South Korea's Kospi index gained more than 1.8% but China's CSI 300 dropped more than 1%, its second day of declines.

Nippon Steel's $14.9 billion takeover bid of U.S. Steel has been blocked, The Washington Post reported on Friday, citing two unnamed administrative officials who did not have permission to speak about the matter. Japan-listed. Not only was that Tesla's first annual drop in deliveries, the figure was also below expectations, according to a consensus of estimates compiled by StreetAccount. Deliveries are the closest approximation of sales reported by Tesla. Meta is replacing its president of global affairs Nick Clegg, a former British deputy prime minister, with Joel Kaplan, the company's current policy vice president and a former Republican Party staffer. It's a sign of how tech companies are Investor interest in India waned at the end of 2024 because of a pullback in Indian equities during that period. One portfolio manager, however, remains bullish on the country, and describes it as 'a compounding machine.' The dip in the market is a buying opportunity, he says, and As the first trading day of the year opened, all major indexes advanced, giving rise to the hope that stocks could begin 2025 bright and cheery. But, like workers shedding the new year festivities and glumly marching back to the office, stocks lost their sheen, began tilting down and closed the session lower. The S&P 500 lost 0.16%. Their loss on Thursday means the S&P and Nasdaq have closed lower for five consecutive sessions, their longest losing streaks since April. The Dow Jones Industrial Average began to climb and, at 12 p.m. U.S. time, was close to touching 4.6%.

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