US Open: US30 gains 0.6% ahead of the Fed decision. Boeing surges 7%, Intel under pressure

Wall Street sentiment improves ahead of the Fed decision (6 PM GMT) and scheduled chair Powell’s speech (6:30 PM GMT); futures on DJIA (US30) are up 0.5%

• Tesla (TSLA.US) shares rise nearly 3%, ranking among the strongest performers in the Mag7, alongside Nvidia and Apple.

• Boeing (BA.US) jumps over 6% following comments from its CFO, signaling a slower cash burn by “hundreds of millions of dollars”.

• Intel (INTC.US) shares drop nearly 7% after comments from Taiwan Semiconductor Manufacturing Company (TSM.US).

The main event of today’s session will be the Fed’s decision, which is almost certainly expected to keep rates unchanged, and Powell’s press conference, where he could signal a more dovish stance in response to weaker U.S. economic data. However, this is not guaranteed, as uncertainty related to tariffs and rising inflation expectations remains high. White House economic advisor Kevin Hassett stated that he spent last night negotiating with the Commerce Secretary and Treasury Secretary alongside officials from other countries, aiming to lower reciprocal tariffs ahead of the April 2 deadline.

Investors still hope that not all of Trump’s proposed tariffs will be implemented at their announced levels. The UK is also negotiating, seeking an exemption. UK Business Minister Jonathan Reynolds has instructed officials to continue talks with Trump’s team for the next two days in hopes of securing a deal that would shield the UK from the highest level of reciprocal U.S. tariffs. Discussions also include a potential tax reduction for U.S. Big Tech firms operating in the UK. 

We can see that today IT Services, Oil&Gas, Aerospace & Defense and Entertainment are the strongest sectors today. Source: xStation5

US30 (15-Minute Chart)

Source: xStation5

Intel under pressure. Shares slide 7%

A TSMC board member has denied a report suggesting that the Taiwanese semiconductor giant had pitched major U.S. chipmakers on taking stakes in a joint venture to operate Intel’s factories.

• Liu Chin-Ching, Taiwan’s National Development Council Minister and a TSMC board member, stated that he could “say with certainty” that the TSMC board has never discussed a collaboration with Intel.
• This statement comes in response to a previous report claiming that TSMC had engaged in talks with Nvidia, Advanced Micro Devices, Broadcom, and Qualcomm regarding taking stakes in a joint venture that would manage Intel’s fabs.

Intel shares have gained over 25% since the start of the year, but today, we see profit-taking pressure. Intel shares declined after failing to break above the 200-day moving average on the daily chart, maintaining a downward trend. The key resistance zone remains at $25 per share.

Source: xStation5