**__ Diplomatt’s Daily Digest – March 18, 2022__**
Good morning and happy Friday, everyone! Stock futures fell in early trading following a three-day rally for the S&P 500 that put the equity benchmark on pace for its biggest weekly gain in more than a year. Friday’s moves come as traders digest the latest developments in the Ukraine-Russia war. Several missiles hit an aircraft repair center on the outskirts of Lviv in western Ukraine. Meanwhile, President Biden is slated to speak with Chinese President Xi Jinping to discuss the conflict. A Ukrainian official also said one person was killed in an airstrike that hit Kyiv. Stocks have enjoyed a relief rally as the Federal Reserve’s decision to tighten policy largely met investor expectations. While the S&P 500 has gained for three consecutive days this week, up 4.9%, on track for its best week since November 2020.
Quote of the week: “Success is how high you bounce when you hit bottom.” – George S. Patton
• As the all-electric Porsche Taycan sedan outsells the German carmaker’s iconic 911 sports car, the company is increasing its EV sales targets. It also plans to roll out a hybrid version of the 911. Porsche announced it expects 80% of its global sales to be all-electric vehicles by 2030.
• The benchmark three-month nickel contract fell 12% to hit a new trading limit, as heavy selling continued on international metal markets.
• American Airlines announced that it would resume sales of alcoholic beverages on domestic and short-haul international flights next month, a plan it delayed almost a year ago because of a surge in unruly passengers and attacks on crew members.
• GameStop shares fell roughly 8% in extended trading Thursday after the video game retailer reported an unexpected loss during the holiday quarter and declined to provide a financial outlook.
• Drugmaker Moderna asked the Food and Drug Administration to authorize the fourth shot of its Covid-19 vaccine as a booster dose for all adults.
• Tesla resumed production at its Shanghai factory on Friday after a two-day suspension. As movement controls imposed on its workers as part of the city’s efforts to curb the latest COVID-19 outbreak eased.
• Nearly three dozen companies worldwide will soon start making generic versions of Pfizer’s coronavirus pill after the U.N.-backed Medicines Patent Pool negotiated the deal.
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