**__ Diplomatt’s Daily Digest – March 16, 2022__**
Good morning and happy Wednesday, everyone! Stock futures are rising as traders tried to build on the sharp gains from the previous session, while Wall Street awaited the Federal Reserve’s latest monetary policy decision. Futures were rallying on signs that a ceasefire could be possible in the Russia-Ukraine war. Ukrainian President Volodymyr Zelenskyy said a peace agreement was beginning to “sound more realistic” in addressing the nation Tuesday. Russian Foreign Minister Sergey Lavrov told the BBC there was “some hope of reaching a compromise.” Russian State media quoting the Kremlin echoed similar sentiments overnight. The war between Ukraine and Russia has sent ripples through global financial markets, sending commodity prices sharply higher and stocks lower. However, some commodities have cooled off recently, while the U.S. equity market tries to find its footing. U.S. oil traded at around $95.70 per barrel Wednesday, after topping a multi-year high of $130 earlier this month. All eyes are on the Fed on Wednesday, as the central bank wraps up a key two-day policy meeting, where the Fed is widely expected to raise rates by a quarter-point, the first hike since 2018.
Quote of the week: “Success is how high you bounce when you hit bottom.” – George S. Patton
• China signaled support for Chinese stocks on Wednesday, after days of worries about U.S. delisting risks sent the stocks plunging in New York and Hong Kong. Chinese and U.S. regulators are progressing toward a cooperation plan on U.S.-listed Chinese stocks.
• Tesla has fired a former Autopilot employee named John Bernal after sharing candid video reviews on his YouTube channel, AI Addict, showing how the company’s Full Self Driving Beta system worked in different locations around Silicon Valley.
• Food delivery company DoorDash is taking steps to try and help drivers offset rising gas prices, though unlike ride-share apps Uber and Lyft, it says the added costs won’t be passed on to consumers. DoorDash said on Tuesday that all U.S. delivery drivers would be eligible for 10% cashback on gas.
• General Motors is gearing up to deliver Cadillac’s first electric vehicle to drivers, announcing Tuesday that it will begin production on customer units of its EV crossover next week, called the Lyriq.
• Sarah Bloom Raskin, President Joe Biden’s embattled nominee to the Federal Reserve, on Tuesday withdrew her candidacy to serve at the central bank, ending a weekslong partisan battle in the Senate over her views on climate policy.
• Pfizer and BioNTech are seeking authorization of a second booster shot for older Americans.
• AMC Theatres announced it is buying 22% of Hycroft Mining Holding Corporation and its 71,000-acre Hycroft Mine in northern Nevada – So yes, AMC literally bought a goldmine.
**StockTwits Top 10 Trending Tickers of the Day:**