The Federal Reserve is widely expected to leave interest rates unchanged when it announces its next monetary policy decisions at 2 p.m. ET today.

And former Federal Reserve Bank of New York President Bill Dudley doesn’t think investors will learn much more abut the path forward during Fed Chair Jerome Powell’s press conference either.

“It’s basically going to be an abundance of caution,” Dudley said. “The Fed’s going to be sitting on its hands for some time.”

Dudley reasoned that the Fed won’t want to preemptively most interest rates while tariff discussions remain influx and economic data has largely shown the US economy remains on solid ground. He doesn’t expect Powell would answer questions about ongoing tariff negotiations.

“The Trump administration has an incentive to talk about negotiations, to try to be reassuring to financial markets,” Dudley said. “But whether those negotiations are going to be fruitful and over what time frame remains to be determined. So I think the Fed takes the world as it is, not the world how it wants it to be. And right now we have a threat of tariffs that are going to drive down growth and drive up inflation.”

Marvell Technology (MRVL) stock dropped roughly 11% midday Wednesday morning after the company postponed its investor day and narrowed its revenue guidance for its 2026 fiscal first quarter (the three months ending May 1).

The custom AI chipmaker’s investor day, previously set for June 10, will take place on June 17, the company said Tuesday.

“We have decided to postpone our investor day given the current uncertain macroeconomic environment,” said CEO Matt Murphy.

Marvell also lowered the top end of its revenue forecast for the first quarter. The company said it expects revenue of $1.875 billion, plus or minus 2%, compared to the prior range of plus or minus 5%.

Macroeconomic uncertainty is hitting chipmakers across the board, as Nvidia (NVDA) and AMD (AMD) grapple with new export bans on their chips to China and companies await potentially more restrictive changes from Trump to an already-strict AI trade rule under Biden (called the AI Diffusion rule) and tariffs on semiconductors.

Marvell stock has posted steep declines in 2025, falling more than 50% year to date after surging 83% in 2024, ahead of the S&P 500’s 23% gain and Nvidia’s 37% rise.

Marvell will release its first quarter earnings results on May 29 after the bell.

Alphabet (GOOGL,GOOG) shares quickly dropped more than 5% on Wednesday morning following a Bloomberg report that Apple (AAPL) is exploring adding AI search to its browsing services.

Apple senior vice president of services Eddy Cue said the company is “actively looking at” bringing AI powered search to its Safari browser during a testimony in the US Justice Department’s lawsuit against Alphabet, according to Bloomberg.

Apple stock was down about 2% following the disclosure.

Stock futures popped Tuesday night on news that Treasury Secretary Scott Bessent will be meeting with Chinese officials this weekend.

While speaking before the House Committee on Financial Services on Wednesday (watch live here), Bessent clarified that the talks with China are not “advanced” but rather just the beginning of discussions.

Disney (DIS) just revealed plans for a new theme park in the Middle East.

The media and entertainment giant said Wednesday that the new theme park and resort would be located in Abu Dhabi, United Arab Emirates (UAE), marking its first major expansion into the Middle East and its seventh global resort. This announcement comes 15 years after Disney’s last park project, Disneyland Shanghai, was unveiled in 2010.

The project supports Disney’s broader strategy to invest $60 billion into its theme parks and cruise lines by 2033, including approximately $30 billion already earmarked for expansions in Florida and California.

The Abu Dhabi resort will be developed in partnership with Miral, the state-backed tourism and real estate firm behind many of the UAE’s landmark attractions.

“We are celebrating another great moment in our storied history,” Disney CEO Bob Iger said during the company’s Q2 earnings call Wednesday morning, describing the project as “authentically Disney and distinctly Emirati.”

The announcement comes after the company reported strong second quarter earnings results, driven by a rebound in its domestic parks business and solid performance in its streaming unit. The company also boosted its full-year earnings outlook, sending shares about 10% higher in early trade.

Read more here.

US stocks coasted higher on Wednesday as investors assessed prospects for planned US-China trade talks and waited for the Federal Reserve’s latest interest-rate decision to land.

The benchmark S&P 500 (^GSPC) rose about 0.2%, while the Dow Jones Industrial Average (^DJI) popped roughly 0.5%, or almost 200 points. The tech-heavy Nasdaq Composite (^IXIC) inched higher by 0.1%.

Super Micro Computer (SMCI) stock fell nearly 6% in premarket trading on Wednesday after the company lowered its full-year revenue outlook, citing economic uncertainty amid President Trump’s trade war and fierce competition from other AI server makers.

Super Micro said on Tuesday that it expects its full-year revenue for 2025 to fall between $21.8 billion and $22.6 billion, down from its prior guidance of $23.5 billion and $25 billion.

CEO Charles Liang told analysts in a call following the company’s third quarter earnings results that tariffs and macroeconomic uncertainty “concern” some customers and make it difficult to forecast the adoption of its technology.

Super Micro’s servers contain Nvidia’s (NVDA) AI chips and are used in data centers to power artificial intelligence.

As of Tuesday’s close, Super Micro shares were down nearly 39% in 2025. The stock has plunged as investors weigh the company’s AI-fueled growth against questionable accounting practices, growing competition, and macroeconomic uncertainties.

Read the latest story here.