Apple extends selloff amid falling iPhone sales in China 📉Defense and space stocks gain on 'Trump Trade' 🗽

Mostly positive Wall Street sentiment during first trading session after Trump's victory; more than 3% drop in Apple (AAPL.US) share prices weighs on US equity market sentiment; US100 loses 0.3%, US30 gains most among US benchmarks

• Shares of companies directly related to the space sector, among others, Redwire (RDW.US), Intuitive Machines (LUNR.US) post more than 20% gains in response to Trump's announcement of a 'manned mission to Mars' 
• Defense-related industrial companies and conglomerates gain, partly supported by news of the construction of the US equivalent of Israel's 'Iron Dome'; RTX Corp (RTX.US, former Raytheon) rises nearly 3%
• Oil and gas sector under pressure from falling energy commodity prices
• U.S. 10-year bond yields fall more than 4 basis points, below 4.57%, despite the relative strength of the dollar, helped by uncertainty over the new administration's tariff policies
• Charles Schwab (SCHW.US) shares rise more than 5% after better-than-expected financial results
• Microstrategy (MSTR.US) loses more than 5% on a wave of short-term weakness in Bitcoin, which quickly retreated from historic highs
• Results from Netflix (NFLX) and logistics giant Prologis today, after the U.S. session

U.S. stock market sentiment is mostly upbeat today. Declines are seen among energy companies and among Chinese ADRs. Strong gains are seen in 'arms' including Lockheed Martin, RTX Corp and Norhtrop Grumman. Source: xStation5

US30 and US100 (H1)

The Dow Jones Industrial Average (US30) futures contract is the best performing US index today. Unlike the US500 and US100, it has more than made up for recent sell-offs.

Source: xStation5

The Nasdaq 100 (US100) is dominated by sellers in today's session, and the index is having more trouble than the DJIA to recover from the roll-off that occurred in mid-December.

Source: xStation5

Source: Bloomberg Finance L.P.

News from companies

• Industrial conglomerate 3M (MMM.US) gains nearly 4% as management expects profits to rise this year.
• Apple (AAPL.US) loses more than 3% as iPhone sales fell 18.2% in China in December, according to third-party, independent market research
• independent research.
• D.R. Horton (DHI.US) gains nearly 5% after confirming full-year revenue and shipments forecasts.
• General Motors (GM.US) gains more than 1% as Deutsche Bank upgraded the automaker to buy on expectations that the company will raise forecasts
• Moderna (MRNA.US) gains 4% after being awarded an additional $590 million from the U.S. government to help develop a vaccine to protect people from avian flu.
• Walgreens Boots Alliance (WBA.US) falls 5% after the Justice Department sued the company for allegedly dispensing opioids and other controlled substances in pharmacies nationwide.
• HSBC has revised its recommendation on Intel to 'Hold'; analysts see little potential for deeper declines, following the US giant's recent share price plunge. Freshworks was downgraded to 'Underweight' at Wells Fargo; target price $13 per share.

Apple's iPhone sales in China fell 18.2% in the latest quarter, causing a 5% global decline in iPhone sales, according to Counterpoint Research. The drop in iPhone sales in China was partly due to the lack of availability of new artificial intelligence features, as Apple looks for a local partner to provide artificial intelligence infrastructure. The company's stock is losing heavily after this announcement.

Apple shares are currently testing an important support point set by the 200-day exponential moving average (golden curve). Source: xStation