**__ Diplomatt’s Daily Digest – April 7, 2022__**
Good morning and happy Thursday! Stock futures rose as the market tried to recover from back-to-back losing sessions while traders digested the Federal Reserve’s plans to tighten monetary policy. The Fed on Wednesday released the minutes from its March meeting, which showed that officials planned to reduce their trillions in bond holdings with a consensus amount of around $95 billion. Meanwhile, policymakers indicated that one or more 50 basis-point interest rate hikes could be warranted to battle surging inflation. Officials “generally agreed” that a maximum of $60 billion in Treasurys and $35 billion in mortgage-backed securities would be allowed to roll off, phased in over three months, and likely starting in May. Investors await the weekly jobless claims data Thursday morning, which is expected to show 200,000 claims filed. Investors also monitor the Ukraine-Russia war, as Ukraine asks NATO for more weapons. “Ukraine’s urgent needs, the sustainability of supplies, and long-term solutions will help Ukraine prevail,” Ukrainian Foreign Minister Dmytro Kuleba said in a tweet.
Quote of the week: “Wake up determined, go to bed satisfied.” – Dwayne “The Rock” Johnson
• Warren Buffett’s Berkshire Hathaway has initiated a major stake in tech hardware stock H.P. Inc, becoming the largest shareholder in the P.C. and printer maker. Berkshire purchased nearly 121 million shares of H.P.
• JD.com’s billionaire founder Richard Liu has stepped down as chief executive of the Chinese e-commerce giant, joining a slew of high-profile tech bosses who have relinquished their roles at the companies they started.
• General Motors expects sales of its electric Chevrolet Bolt models can rebound from a high-profile recall after several vehicles caught fire to achieve record results in 2022.
• Denim retailer Levi Strauss & Co. reported fiscal first-quarter earnings and revenue that topped analysts estimates as it sold more of its jeans and T-shirts at higher price points, often directly to customers.
• The U.S. Army Corps of Engineers has withdrawn SpaceX’s application to expand launch facilities in Boca Chica, Texas after the company failed to provide the environmental information the agency requested.
• Leading U.S. scientists and physicians worry that the FDA and CDC are moving too fast in approving the fourth round of Covid shots, with little public debate that gives the vaccine makers too big a role in setting the pace with which the doses are distributed across the nation.
• Meta is still exploring finance products – the parent company of Facebook and Instagram reportedly has a few irons in the fire, including virtual currency employees have taken to calling “Zuck Bucks.”
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