**__ Diplomatt’s Daily Digest – March 22, 2022__**
Good morning and happy Tuesday, everyone! Stock futures rose this morning, as Wall Street looked to rebound from a down session, while traders weighed Federal Reserve Chair Jerome Powell saying the central bank is open to higher rate hikes to combat rising inflation. Wall Street was coming off a volatile session Monday, as Powell vowed to take “necessary steps” to curb inflation less than a week after the agency raised rates for the first time since 2018. Powell said “inflation is much too high” and added that rates could increase more than the previously approved 25 basis points if needed. Oil prices fell slightly Tuesday after rising sharply in the previous session on news that the European Union is weighing a ban on Russian oil. Investors on Tuesday continued to watch the situation in Eastern Europe, with President Joe Biden saying Russian President Vladimir Putin’s back is “against the wall” as the war with Ukraine nears a stalemate.
Quote of the week: “People who are crazy enough to think they can change the world are the ones who do.”- Rob Siltanen
• Russia’s purported use of hypersonic missiles in Ukraine in recent days is not only a sign that the military could be resorting to using more destructive weaponry but also an opportunity for Russia to flaunt weapons, it says it’s been developing for several years.
• Nike shares rose more than 5% in the premarket after the retailer reported a beat on the top and bottom lines for its fiscal third quarter, buoyed by strong demand in North America.
• The Ford F-150 Lightning gets an EPA-confirmed range of up to 320 miles, with the base model getting 230 miles of range.
• Elon Musk will officially open Tesla’s first manufacturing facility in Europe on Tuesday as the company looks to take pressure off its other factories in the U.S. and China.
• Pfizer will supply up to 4 million courses of its oral Covid-19 treatment to dozens of poorer nations under an agreement with the United Nations Children’s Fund.
• Alibaba’s Hong Kong-listed stock closed more than 11% on Tuesday after the Chinese e-commerce giant said it would increase the size of its share buyback program from $15 billion to $25 billion.
• Aviation analysts cite the Boeing 737 crash as unprecedented given the “stellar safety record” of the aircraft.
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