**__ Diplomatt’s Daily Digest – March 9, 2022__**
Good morning and happy Wednesday, everyone! Stock futures posted strong gains early as investors assessed a surge in commodity prices and high inflation while the war in Ukraine rages on. Futures tied to the Dow Jones Industrial Average rose 510 points or 1.6%. S&P 500 futures climbed 1.7%, and Nasdaq 100 futures gained 2.1%. The gains came amid an easing in commodity prices that have spooked the broader market. In particular, energy and agriculture products have catapulted higher amid the fighting in Ukraine, while some metals also have posted major gains. Treasury yields also climbed as investors focused on the overall trend of higher inflation. The market volatility was driven by uncertainty among investors as they continued to assess surging prices in commodities like oil, gasoline, natural gas, and precious metals. That fueled concerns about a slowdown in global growth amid surging inflation. It remains to be seen if the Federal Reserve will manage a soft economic landing, but the U.S. should avoid a recession. Energy stocks were a bright spot in the market as oil prices continued to climb, jumping to their highs of the session as President Biden announced a ban on Russian fossil imports, including oil, in response to the country’s invasion of Ukraine. After oil hit a 13-year high of $130 to start the week, that was after oil hit.
Quote of the week: „We will not learn how to live together in peace by killing each other’s children.“ -Jimmy Carter.
**General News:**
• A Chinese state-sponsored hacking group successfully compromised the computer networks of at least six U.S. state governments between May 2021 and February this year, according to research published by cybersecurity firm Mandiant.
• Google parent company Alphabet announced that it plans to buy cybersecurity firm Mandiant for around $5.4 billion, making it the second-largest acquisition in its history.
• Several economic analysts warn of recession if oil prices continue to surge further into uncharted territory.
• Stitch Fix shares tumbled in extended trading Tuesday after the online styling service offered a weak outlook for its fiscal third quarter and slashed its forecast for the full year as it struggled to grow its subscriber base.
• Lululemon is venturing into footwear, marking a new product category for the maker of leggings and sports bras and deepening its rivalry with giants like Nike and Adidas.
• Samsung announced that hackers breached company data and stole 190 gigabytes of confidential Samsung source code.
**StockTwits Top 10 Trending Tickers of the Day:**
1. ENSV
2. BMBL
3. USEG
4. LUNA
5. ZIM
6. THO
7. RIOT
8. NINE
9. XOM
10. UNFI
