**__ Diplomatt’s Daily Digest – February 3, 2022__**
Good morning and happy Thursday, everyone! U.S. stock futures fell early Thursday as traders pored through the latest batch of corporate earnings, which included disappointing numbers from tech giant Meta Platforms. Thursday’s moves come after the major averages notched a four-day winning streak during the regular session. The Dow rose more than 200 points on the day, while the S&P 500 and Nasdaq Composite advanced 0.9% and 0.5%, respectively. Those gains were driven by a jump in tech shares, led by a 7.3% rally in Alphabet. That four-day jump has helped the major averages trim some of their steep losses after a downbeat January. Last month’s declines came as traders braced for potential rate hikes from the Federal Reserve. It’s been a crazy, volatile environment, which is what happens when you’re in this transition period of monetary policy and economic growth.
Quote of the week: “Opportunities don’t happen. You create them.” – Chris Grosser
• Facebook shares tumbled more than 20% in extended trading on Wednesday after the company reported disappointing earnings, gave weak guidance, and said user growth has stagnated.
• Sales of the Nintendo Switch console have surpassed the Wii, but the global semiconductor shortage forced the Japanese gaming giant to cut its forecast for the device.
• Energy bills are set to rise drastically in the U.K. after the country’s energy regulator announced its cap on prices would rise by over 50% in April.
• Facebook parent Meta announced that the privacy change Apple made to its iOS operating system last year would decrease the social media company’s sales this year by about $10 billion.
• Mark Zuckerberg’s ‘metaverse’ business lost more than $10 billion last year, and the losses keep growing.
• Shares of PayPal closed down 24% on Wednesday, a day after the company provided weak guidance that it blamed in part on inflation.
• The Bank of England imposed back-to-back interest rate hikes for the first time since 2004 and began the process of quantitative tightening.
**StockTwits Top 10 Trending Tickers of the Day:**