U.S. stocks are drifting near a record on Thursday as Wall Street’s recent rally loses some momentum. The S&P 500 was down 0.1% in early trading after pulling to the edge of its all-time high Wednesday following its sixth gain in seven days.

Trump has expressed interest in traveling to China in his first 100 days in office according to the Wall Street Journal.

China: Asian equities mostly rose Thursday, cheered by another tech fuelled run up on Wall Street after Donald Trump s huge AI investment

Apple faced two downgrades ahead of earnings, with analysts citing weak iPhone demand. China continues to be a headwind for sales.

In recent years, Chinese property developers have used unsold apartments to settle debts to construction companies and furniture suppliers. Now, Chinese local governments are following suit.

In China, Apple’s second largest market, iPhone sales fell 18% in the December ending quarter, according to Bloomberg.

Trump has expressed interest in traveling to China in his first 100 days in office, the report said, citing one of the people. Trump's inauguration is Monday, and Chinese state news agencies said on Friday that Chinese Vice President Han Zheng will attend as Beijing stands ready to strengthen cooperation.

The tariffs Trump has threatened would ding profits and stocks. But investors think Trump's threats of a punishing trade war are overblown.

Wall Street’s main indexes rose on Tuesday, with the blue-chip Dow at a more than one-month high, as investors assessed President Donald Trump’s executive orders after taking office and awaited his first move on trade policy. In morning trading, the Dow Jones Industrial Average rose 423 points, or 1%, to 43,911.

Chinese officials are looking into selling the U.S. operations of TikTok to Elon Musk if the social media firm ultimately gets banned here, according to reports.

U.S. stocks rose to a record Thursday as Wall Street regained some of the momentum that catapulted it to 57 all-time highs last year.