March 2025 Stock Market Update: Intel $8.5B Boost, Chipotle 50-for-1 Split & Fed Insights

Market Highlights for March 20, 2024

Today, investors await crucial updates as Federal Reserve Chair Jerome Powell shares insights on economic conditions and interest rate trajectories. Meanwhile, Chipotle Mexican Grill (CMG) stocks soar following the announcement of a 50-for-1 stock split designed to enhance accessibility for everyday investors. Intel (INTC) gains momentum after securing up to $8.5 billion in funding from the CHIPS Act to expand U.S. manufacturing, while Micron Technology (MU) prepares to release key earnings post-market, focusing on AI chip production for Nvidia (NVDA). Luxury powerhouse Kering (PPRUY) signals challenges ahead with a forecasted dip in Gucci sales. Bitcoin (BTCUSD) trades above $63,000, with futures steady ahead of the Fed's policy announcement.

1. Federal Reserve Chair Powell’s Economic and Interest Rate Outlook

The Federal Reserve concludes its two-day meeting today, with Chair Jerome Powell set to provide critical commentary on the economy and interest rate policy. Despite persistent inflation, no immediate rate cuts are expected. The Fed’s "dot plot" will reveal projections for the federal funds rate over the coming years. Market expectations, based on CME Group’s FedWatch tool, anticipate up to three quarter-point rate reductions this year, potentially starting in June.

2. Intel Surges on $8.5 Billion CHIPS Act Funding

Intel Corporation (INTC) shares climbed over 3% in premarket trading after the White House announced an $8.5 billion grant from the CHIPS Act to expand semiconductor manufacturing across Arizona, Ohio, New Mexico, and Oregon. This initiative aims to create nearly 30,000 direct jobs and numerous indirect positions, bolstering U.S. chip production amid geopolitical tensions. Intel may also access an additional $11 billion in loans under the CHIPS and Science Act.

3. Chipotle’s 50-for-1 Stock Split to Broaden Investor Access

Chipotle Mexican Grill Inc. (CMG) shares jumped more than 5% premarket following board approval of a 50-to-1 stock split, pending shareholder approval at the June 6 annual meeting. Effective post-market on June 25 for shareholders of record on June 18, this split is Chipotle’s first in 30 years and aims to make shares more affordable to employees and a wider investor base, according to CFO Jack Hartung.

4. Micron’s Q2 Earnings Preview: Narrowing Losses and AI Chip Focus

Micron Technology (MU) is scheduled to report its fiscal Q2 earnings after market close. Analysts anticipate a reduced loss of approximately $275.8 million (26 cents per share), a significant improvement from last year’s $2.08 billion loss. Investors will closely watch updates on DRAM revenue growth and AI chip production for Nvidia’s GPUs. Micron shares edged up 0.5% premarket.

5. Kering Warns of 20% Decline in Gucci Sales, Impacting Q1 Revenue

Luxury conglomerate Kering (PPRUY) projects a 10% revenue decline in Q1 2024 compared to last year, driven primarily by a 20% drop in Gucci sales, especially in Asia. The Paris-based company highlighted ongoing challenges in the first half of the year. Other Kering brands include Bottega Veneta and Balenciaga.

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