**__ Diplomatt’s Daily Digest – February 4, 2022__**
Good morning and happy Friday, everyone! Stock futures turned mostly lower in early morning trading Friday as investors digested a slew of corporate earnings reports after the Nasdaq Composite posted its worst day in more than a year. Several technology stocks posted huge after-hours gains following strong quarterly results. Amazon jumped 12.4%, Pinterest surged more than 14%, and Snap rocketed up around 50% the day after reporting earnings. Friday’s moves come the day after a tech rout spurred by a disappointing earnings report from Facebook parent Meta. The company’s weak results sent the mega-cap tech stock lower Thursday and weighed on equity markets. The sudden slam to the economy from the omicron Covid variant could show up in January’s employment report as the first big loss of jobs since late 2020.
Economists have wideic08yanging expectations for the report, which is expected Friday at 8:30 a.m. E.T. Economists polled by Dow Jones call for a 150,000 gain in payrolls.
Quote of the week: “Opportunities don’t happen. You create them.” – Chris Grosser
• Ukraine Foreign Minister Dmytro Kuleba said on Friday that the government is taking every risk into account after being briefed by the United States over Russia’s possible use of a fake video as a pretext for invasion.
• Amazon on Thursday said revenue climbed 9% in the fourth quarter, and the company reported a gain of almost $12 billion from its investment in electric vehicle company Rivian. Amazon shares popped as much as 14% in extended trading. Should the stock sustain this rally on Friday, it would be the biggest one-day gain since 2012.
• Semiconductor companies worldwide are preparing to make major investments in their research and development facilities to meet growing demand as the global chip shortage rages on.
• Facebook co-founder Mark Zuckerberg saw his net worth decreased by almost $30 billion following the record-breaking plunge of Meta shares Thursday.
• Ford Motor’s shares slid after it reported fourth-quarter earnings Thursday, which significantly missed Wall Street’s earnings expectations and slightly missed revenue. The company’s shares tumbled by more than 6% in after-hours trading. The stock closed Thursday at $19.89 a share, down by 3.6%.
• Snap reported its first quarterly net profit on Thursday and beat analyst estimates on earnings, revenue, and user growth for the fourth quarter.
• Amazon announced a price increase for Amazon Prime during Amazon’s earnings report on Thursday. The price change will go into effect on February 18, 2022, and for current Prime members, the new price will apply after March 25, 2022, on the date of their next renewal. An annual Prime subscription will go from $119 to $139.
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