Stock futures pointed lower Wednesday morning as investors watched for fresh insights from the Federal Reserve and evaluated the latest tariff proposals from President Donald Trump, which could mean a 25% import tax on automobile, pharmaceutical and semiconductors sold in the U.S.; Intel (INTC) stock moved lower following reports that a private equity firm was in talks to acquire part of the chipmaker’s business; Super Micro Computer (SMCI) shares gained as the server maker looks to extend an upward run after strong AI revenue projections; Investors are watching Apple (AAPL) ahead of the expected launch of a new low-cost iPhone model.
Here’s what investors need to know today.
1. Stock Futures Tick Lower as Investors Evaluate Tariffs, Await Fed Minutes
Stock futures trended mostly lower premarket as investors digested the latest tariff proposals from the White House and prepared for Federal Reserve meeting minutes, which can provide clues regarding the path ahead for interest rates. Futures associated with the S&P 500 ticked narrowly lower after the benchmark index notched an all-time-high in Tuesday’s session, the first time in a month that it had set a new record. Futures tied Dow Jones Industrial Average also pointed lower, while those associated with the to the Nasdaq edged upward. Oil futures were higher by nearly 1% while gold futures also moved higher. Bitcoin (BTCUSD) was rising, trading above $96,000. Treasury yields also ticked higher.
2. Trump Floats 25% Tariff on Autos, Chips, Pharmaceuticals
The latest tariffs proposal from President Donald Trump could levy import taxes of 25% or more on automobiles, semiconductors and pharmaceutical products brought into the U.S. The Wall Street Journal reported that companies in the U.S. may get a phase-in period and that the tariff could be increased over the course of the year. Bloomberg reported that an announcement on the tariffs could come by April 2. The U.S. imported around 8 million passenger cars and light trucks last year, making up around half of the country’s vehicle sales. The proposal follows other announcements from Trump that include raising tariffs on Chinese products by 10% and imposing 25% tariffs on imported steel and aluminum.
3. Intel Falls Following Report on Negotiations Around Programmable Chips Unit
Intel shares fell by nearly 3% in premarket trading. Private equity firm Silver Lake Management was nearing a deal to acquire Intel’s Altera programmable chips unit, according to a Bloomberg report Tuesday. The decline follows a 16% advance in the prior session for Intel’s stock on reports that Broadcom and Taiwan Semiconductor Manufacturing Co. were considering bids for parts of the chipmaker. Despite that jump, the stock has still lost more than a third of its value over the past 12 months—though its recent advances have eaten into those losses.
4. Super Micro Rise Again as AI Optimism Fuels Stock Gains
Super Micro Computer shares were some 6% higher in premarket trading. The struggling server maker’s shares jumped 16% in the prior session to extend its winning streak to four days. Supermicro’s stock has surged since it projected last week that it would post significant sales growth in 2026 on demand for artificial intelligence servers. The company projected revenue to reach $40 billion in 2026, 60% more than what the company projects in 2025, as demand grows for infrastructure to support AI. Its shares have risen about 40% since last week’s update.
5. Apple Expected to Unveil New Low-Cost iPhone Model with AI
Apple shares were little changed in early action ahead of an expected announcement of a new product today that some analysts believe will be a low-cost iPhone. Morgan Stanley said it expects the iPhone SE4 to start at $499 and come equipped with Apple Intelligence—which CEO Tim Cook has said is driving record iPhone upgrades. Apple shares have added about a third of their value over the past 12 months.
