Wall Street was heading for more gains before the open on Friday as markets try to log their first winning week of 2025 on the final day of trading during the Biden presidency.Futures for the S&P 500 climbed 0.

China’s economy hit the government’s growth goal last year, after an 11th hour stimulus blitz combined with an export push before looming US tariffs turbocharged activity in the final quarter.

Exports have surged as companies and consumers rush to beat potential tariff hikes President-elect Donald Trump may impose on Chinese goods. “The national economy was generally stable with steady progress and new achievements were made in high-quality development,

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.

China said that its economy expanded by 5% last year, but a variety of weak signals have raised skepticism among some outside economists.

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,

China’s economy expanded 5% in 2024, meeting the official target of “around 5%” growth after stimulus measures introduced late last year appear to be working.

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