The S&P 500 futures are down 72 points, dropping 1.4%. Nasdaq 100 futures are down 292 points, a 1.6% decrease, and Dow Jones Industrial Average futures are down 462 points, a 1.2% decline.

Futures linked to the major indices are lower following another week of losses in the stock market.

There is market reaction to news that President Trump is considering whether he can fire Fed Chairman Jerome Powell, as mentioned by White House economic adviser Kevin Hassett.

The 10-year yield has risen eight basis points to 4.41%, while the 2-year yield has decreased by one basis point to 3.79%.

Today's economic schedule includes:

• 10:00 ET: March Leading Indicators (consensus -0.4%; prior -0.3%)

In company updates:

Today's News

Huawei Technologies is set to begin mass shipments of its new Ascend 910C AI chip to Chinese customers next month, as reported by sources. This development follows recent U.S. restrictions requiring Nvidia (NVDA, Financial) to obtain a license to export its H20 chips to China, potentially impacting Nvidia's revenue by $5.5 billion. Huawei's chip is reportedly comparable to Nvidia's H100, which is not directly available in China.

Boeing (BA, Financial) is experiencing potential trade tensions as a second 737 MAX jet, initially destined for a Chinese airline, returned to the United States. This move might signal increasing trade frictions between Washington and Beijing. The aircraft's return journey included a stop in Guam, a standard refueling point, before heading back to Boeing's Seattle base.

MicroStrategy, now rebranded as Strategy (MSTR, Financial), acquired 6,556 bitcoins for $555.8 million, raising funds through share sales. The average purchase price was $84.8K per bitcoin. The company's total bitcoin holdings now stand at 538,200, with an average purchase price of $67.8K. Strategy's stock rose 2.5% in premarket trading, while Bitcoin saw a 3.6% increase to approximately $87.4K.

Chipotle Mexican Grill (CMG, Financial) announced its expansion into Mexico through a partnership with Alsea, S.A.B. de C.V., marking its first venture into the country. Chipotle aims to establish its presence by early 2026, leveraging Mexico's familiarity with its ingredients and preference for fresh food to drive growth.

Airbus (OTCPK:EADSF) has delayed its zero-emission hydrogen-powered aircraft project due to technical challenges and slow adoption rates. The project, initially set for a 2035 launch, has seen budget cuts and reallocation of resources. Challenges include adapting engines for hydrogen and establishing a new supply chain.

Malaysia Aviation Group is in discussions with Boeing (BA, Financial) to acquire 737 MAX aircraft that Chinese airlines may release due to trade tensions. This opportunity could allow Malaysia Aviation to expedite its fleet expansion, but competition for these aircraft slots remains high.

China's state-backed funds have ceased new investments in U.S. private equity, signaling a strategic financial decoupling amid ongoing trade tensions. The China Investment Corporation, among others, has shifted focus away from U.S. investments, while Chinese stakes in FTSE 100 companies have increased, particularly in critical sectors.

GuruFocus Stock Analysis

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