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Here is what you need to know.

1. US stocks are set to drop after the Fed's 'hawkish shift' tempers hopes for further rate cuts. Fed Chair Jerome Powell cut the benchmark rate by 25 basis points to combat lackluster global growth and the fallout from the US-China trade war.

2. India is replaying Trump's favorite strategy by accusing the media of fake news in Kashmir. The government is relentlessly accusing journalists of publishing false reports about the situation.

3. Pompeo inadvertently admitted the Iran crisis is a 'direct result' of Trump's actions. "I would argue that what you are seeing here is a direct result of us reversing the enormous failure of the [Iran nuclear deal]."

4. WeWork cofounder Rebekah Neumann reportedly demanded employees be fired within minutes of meeting them because she disliked their 'energy.' Neumann, a cousin of Gwyneth Paltrow, "pushes to infuse spiritualism in We," according to the Wall Street Journal.

5. Uber and Lyft just took a major blow in California, and now they're gearing up for war. California lawmakers approved a landmark bill that would force gig-economy companies like Uber, Lyft and others to treat many workers as employees instead of independent contractors, throwing their business models into question.

6. Don't blame Amazon for FedEx's stock free fall. The shipping giant was also hit by the delayed integration of Dutch carrier TNT Express and a tough macroeconomic backdrop.

7. Toyota is working on innovating a solar-powered electric car that can 'run forever' and never needs charging. The Japanese car giant has partnered with Sharp and NEDO (New Energy and Industrial Technology Development Organization of Japan) to create the vehicle.

8. US futures fell while European and Asian equities rose on Thursday. Futures underlying the Dow Jones Industrial Average (-0.2%) and S&P 500 (-0.2%) fell. European indexes opened higher with the Dax (+0.1%), FTSE 100 (+0.5%), and Euro Stoxx 50 (+0.3%) all higher. Stocks rose in Asia with the Shanghai Composite (+0.5%) and Nikkei (+0.4%) closing higher.

9. There are a few earnings reports to look out for today. Darden Restaurants, owner of Olive Garden, is publishing its first-quarter earnings.

10. There's some interesting data coming out. Fresh figures on the US housing market, crude oil stocks, and industrial production are scheduled for release.