Roberto Schmidt / AFP via Getty Images
Shares of Super Micro Computer (SMCI), a server manufacturer, rose after strong AI projections. Investors also watched Apple (AAPL) as it prepares to launch a low-cost iPhone.
Here's what investors need to know today.
1. Stock futures tick lower as investors evaluate tariffs and await Fed minutes
The trend of stock futures was mainly lower in the premarket period as investors digested White House’s latest tariff proposals, and prepared themselves for the Federal Reserve minutes which could provide clues on the interest rate path to come. 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. Dow Jones Industrial Average futures also declined, while Nasdaq’s were slightly higher. The price of oil was up nearly 1%, while the gold prices were also higher. Bitcoin (BTCUSD), trading at over $96,000 was on the move. Treasury yields are also rising.
2. Trump floats a 25% tariff on autos, chips, and pharmaceuticals
Donald Trump’s latest tariff proposal could see import taxes as high as 25% for automobiles, semiconductors, and pharmaceuticals that are brought to the U.S. The Wall Street Journal stated that there could be a phased-in period for companies within the U.S. and the tariff may increase over the next year. Bloomberg reported on April 2 that a decision could be made about tariffs. In 2016, the U.S. imported 8 million cars and trucks, or around 50% of all vehicles sold in that country. Trump also announced that he would increase tariffs by 10% on Chinese imports and to impose 25% tariffs for imported steel and aluminium.
3. Intel Drops Following Report of Negotiations on Programmable Chips Unit
Intel shares declined by more than 3% before the opening of premarket. Bloomberg reported Tuesday that Silver Lake Management, a private equity firm, was close to signing a contract to buy Intel’s Altera unit of programmable chip technology. Intel stock had risen by 16% in the previous session on news that Broadcom, Taiwan Semiconductor Manufacturing Co. and others were contemplating bids to acquire parts of the company. 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. As AI optimism fuels stock gains, Super Micro stocks rise again
Super Micro Computer stock was 6% higher at premarket. Shares of the struggling server manufacturer soared 16% during the previous session, extending its streak of four consecutive days. Supermicro shares have risen since the company announced last week it expected to see significant growth in sales by 2026 due to demand for AI servers. As demand for AI infrastructure grows, the company expects revenue of $40 billion by 2026. This is 60% higher than its projections from 2025. The company’s stock has risen by about 40% in the last few weeks since its update.
5. Apple is Expected To Unveil A New iPhone Model With AI
Apple’s shares have not changed much in the early trading ahead of today’s expected announcement. Some analysts think it will be an affordable 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 gained about a quarter of their value in the last year.
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