China's economy grew in line with official targets. Meanwhile, the drop in Apple shares Thursday broke a three-day winning streak for the S&P.

China reported its economy grew 5% in 2024, meeting its target of around 5%. Analysts polled by Reuters had expected China's full-year GDP growth to come in at 4.9%, just shy of the official target of around 5% — which analysts had said was ambitious.

KEY TAKEAWAYS China met its annual 5% GDP growth target for 2024, thanks to the stimulus measures that buoyed economic activity in the fourth quarter.According to the country's National Bureau of Statistics,

Sales of consumer goods grew a moderate 3.5 percent, while hospitality sectors continued to outperform discretionary segments such as apparel, gold and jewelry.

The US also sees a bump in expected economic growth, and IMF says this could help keep global growth steady amid downward revisions elsewhere.