**__ Diplomatt’s Daily Digest – March 2, 2022__**
Good morning and happy Wednesday, everyone! Stock futures rose Wednesday morning as oil prices surged amid the intensifying conflict between Russia and Ukraine. The moves came as oil prices trekked upward. Both U.S. crude and international benchmark Brent crude futures rose about 4% each. West Texas Intermediate most recently traded at $107.50, and Brent was at $109.51, after trading at their highest levels in more than a decade. Investors remained on edge as reports Wednesday indicated that Russian forces penetrated Kherson and have surrounded Mariupol, two key cities in the southern part of the country. Markets also were digesting the State of the Union speech from President Biden, who offered little in the way of new policy details while urging support for Ukraine and reiterating many of the goals for his domestic agenda. Investors keep a close eye on oil prices, which could drive inflation, choke the economy and create challenges for the Federal Reserve when shaping policy. Energy stocks were a bright spot in the market Tuesday, while bank stocks took a hit, dragged down by a sharp decline in Treasury yields, representing a rush into safe-haven bonds amid the stock market turmoil.

Quote of the week: „War may sometimes be a necessary evil. But no matter how necessary, it is always an evil, never a good.“ -Jimmy Carter.

**General News:**
• Russia seems increasingly frustrated at the pace of its War against Ukraine as it expected the country to surrender but failed to anticipate the resolve of its people, according to a military analyst.
• President Biden announced that the United States would ban Russian aircraft from flying through U.S. airspace.
• Hungary’s Viktor Orban, a longtime ally of Russian President Vladimir Putin and thorn in the side of fellow EU leaders, has had a week of sharp reversals and swift political retreats. Siding with European leaders against Putin’s senseless War in Ukraine.
• Fed Chair Jerome Powell will testify before Congress on Wednesday to update his semiannual monetary policy. With fears over the Russian invasion of Ukraine causing turmoil in the financial world, Wall Street has quietly dialed down its expectations for Fed action. Powell is now tasked with telling Congress this week that the central bank will be doing more to control inflation when markets expect it will be doing less.
•President Biden sought to accomplish two difficult tasks in his first State of the Union address. The first was to rally public support for Ukraine as the longtime U.S. ally fends off a brutal Russian invasion.
• Netflix has offered to buy mobile game maker Next Games, the developer of the mobile game based on Stranger Things, as the streaming giant pushes further into gaming.
• Ford Motor will reorganize operations to separate its electric and internal-combustion engine businesses into separate units within the automaker. The move is expected to streamline its growing electric vehicle business and maximize profits.

**StockTwits Top 10 Trending Tickers of the Day:**
2. RSX
3. CRM
4. FTM
5. AMC
6. OXY
7. LTC
8. XOM
9. JWM
10. PTRA

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