Stock futures climb after S&P 500 posts back-to-back winning sessions: Live updates​on February 6, 2025 at 5:39 am

Stocks in China and the renminbi face “a tough year regardless of how trade tensions play out,” according to Thomas Mathews, head of Asia Pacific markets at Capital Economics.

Higher tariffs, or elevated tariffs that remain where they are, leave plenty of room for “China’s markets to deteriorate,” according to the firm, a London-based researcher. “But tariffs are, in our view, only one reason to be downbeat,” Mathews wrote Wednesday.

China’s tepid economy ought to keep down bond yields, and the central bank is more likely “to let the currency weaken.”

Meanwhile, stock market investors may be too optimistic about the effect of government measures to boost the economy and too confident about the ability of companies in China to “generate sustained growth in earnings per share,” Mathews said, arguing that “despite a recent pick-up, EPS are still lower than they were ten years ago. And the economic backdrop of that decade was much rosier than we think the next one will be.”

— Scott Schnipper

These are the stocks moving the most in extended trading hours:

Read the full list of stocks moving here.

— Lisa Kailai Han

Stock futures traded near flat Wednesday night.

Dow futures slipped just under 0.1% shortly after 6 p.m. ET, while S&P 500 and Nasdaq 100 futures were both trading around the flatline.

— Lisa Kailai Han