Stock futures were slightly lower on Tuesday after China slapped tariffs on U.S. imports, retaliating to U.S. duties on exports from Beijing.

Futures tied to the Dow Jones Industrial Average were down 65 points, or about 0.2%, while S&P 500 futures traded around the flatline. Meanwhile, Nasdaq-100 futures were up 0.2%.

The Chinese government slapped tariffs of up to 15% on U.S. imports of coal and liquefied natural gas and 10% higher duties on crude oil, farm equipment and selected cars, effective Feb. 10.

Will the new presidential administration play nice with large technology companies?

For now, it looks like there are some warm feelings — as President Donald Trump on Tuesday announced a major investment in artificial-intelligence infrastructure that calls for OpenAI, SoftBank Group Corp. 9984 SFTBY and Oracle Corp. ORCL to create a joint venture named Stargate that will focus on data centers and other infrastructure projects.

CNBC’s Jim Cramer on Thursday mused about how President Joe Biden impacted stocks and reviewed a prevalent question among executives — whether the market performed because or in spite of the administration.

“Look, maybe it didn’t matter. Everything turned out to be just fine. Could it have been even better? Of course. Maybe it will be with President-elect Trump, but maybe it won’t,” he said. “Ultimately, I think that a president should develop a good relationship with the business community...Biden was, indeed, needlessly antagonistic.”

U.S. stocks roared to another blockbuster showing in 2024. Few expect such a torrid advance in the year to come.

The S&P 500 has climbed 24%, notching 57 record closes as the economy remained healthy, inflation ticked lower and an AI-fueled rally in big tech stocks powered on. Even with a stumble in the last few trading days, the broad U.S. stock index is on pace for its best consecutive years since 1997 and 1998, according to Dow Jones Market Data, during the lead-up to the bursting of the dot-com bubble.

The Federal Reserve signaled greater doubt over how much it would continue to cut rates after agreeing to a reduction on Wednesday that Chair Jerome Powell conceded had been a close call.

The latest cut, approved by 11 of 12 Fed voters, will lower the Fed’s benchmark federal-funds rate to a range between 4.25% and 4.5%, a two-year low.

The stock market plunged on Wednesday after the Federal Reserve scaled back its expectations for interest rate cuts next year.

The Dow Jones Industrial Average fell about 1,100 points, or 2.5%, the largest drop for the index since August. The dip marked the 10th consecutive day of losses for the Dow, its longest losing streak since 1974.

The Federal Reserve on Wednesday announced its third straight interest rate cut, lowering the benchmark rate by 25 basis points amid economic data showing that inflation remains above the central bank's target rate.

Stocks inched lower Friday as investors failed to recover the remaining losses stemming from the sell-off earlier this week.

The S&P 500 traded 0.2% lower. The Nasdaq Composite fell 0.2%, while the Dow Jones Industrial Average lost 116 points, or 0.3%.