**__ Diplomatt’s Daily Digest – March 28, 2022__**
Good morning and happy Monday, everyone! Stock futures were mixed Monday morning as a week filled with key economic reports kicked off, and investors continue to keep a close eye on the Federal Reserve’s planned interest rate hikes. The Dow and S&P 500 rose on Friday to close out their second consecutive winning week. The moves came as investors continue to monitor developments in Russia’s war on Ukraine and expectations about the Fed’s plans to hike interest rates. Geopolitical risks remain elevated, and the rally in equities over the past two weeks is impressive. The U.S. economy is still in good shape, but buying every stock market dip probably won’t be the attitude for most traders going forward, given how hawkish the Fed has turned. Investors continue to keep a close eye on the Fed. Wall Street firms from Goldman Sachs to Bank of America penciled in half-point hikes in future Fed meetings this year after the central bank’s chair Jerome Powell vowed to be tough on inflation and said rate increases could become more aggressive if necessary.
Quote of the week: “Learn as if you will live forever, live like you will die tomorrow.” — Mahatma Gandhi
• President Biden intends to propose a minimum tax of 20% on households worth more than $100 million and cut projected budget deficits by more than $1 trillion over the next decade.
• President Biden’s job approval ratings keep falling in his second year in the White House, with just 40% of Americans approving of his job. That is the lowest rating Biden has seen in his presidency.
• Elon Musk said he is giving “serious thought” to building a new social media platform in a Tweet on Saturday. He did not share any specifics on what the hypothetical social media platform would look like or how it would work.
• In more Tesla news, Tesla wants to split its stock to pay a stock dividend to shareholders.
• Tesla is suspending production at its Shanghai factory for four days after the financial hub said it would lockdown in two stages to carry out mass testing for COVID 19.
• Huawei reported its first yearly revenue decline in 2021 as U.S sanctions continued to hurt the company, but the Chinese technology giant’s income surged last year as it focused on boosting profitability.
• A cruise ship that went to the Panama Canal returned to San Francisco on Sunday morning with multiple passengers tested positive for COVID-19.
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