**__ Diplomatt’s Daily Digest – April 8, 2022__**
Good morning and happy Friday! U.S. stock futures rose slightly on Friday, but the market headed for a losing week as investors braced for tighter monetary policy from the Federal Reserve. Despite a mild rebound Thursday and Friday’s early gains, the major averages were headed for weekly declines. Those losses would mark the first weekly losses for the S&P 500 and Nasdaq in four weeks. Meanwhile, the Dow is headed for back-to-back weekly decreases. The losses have been driven by a change of tone by the Federal Reserve, signaling it will be even more aggressive to fight inflation. Tech shares have led the losses this week as investors dump the riskier shares in anticipation of higher interest rates crimping the group’s future profit growth. Nvidia and Tesla are in the red for the week. On the economic front, the wholesale inventories report will be released at 10 a.m. Friday. Investors are also looking ahead to the earnings season, which will kick off next week with reports from five big banks. JPMorgan will report before the bell on Wednesday. Citigroup, Goldman Sachs, Morgan Stanley, and Wells Fargo will report before markets open on Thursday.
Quote of the week: “Wake up determined, go to bed satisfied.” – Dwayne “The Rock” Johnson
• At least 30 people were killed and over 100 injured in a Russian missile attack on a Ukrainian train station used for civilians to evacuate the warzone.
• Tesla may start producing a humanoid robot known as Optimus as early as next year.
• Tesla will finally start selling the Cybertruck next year, Elon Musk has announced at the opening party for the company’s Giga Texas factory.
• Jeep has redesigned an all-electric concept version of its flagship Wrangler as the brand pivots from gas guzzlers to zero-emissions E.V.s. The new electric Wrangler reportedly goes 0-60 mph in 2 seconds.
• Russia’s central bank said that due to a “significant change in market conditions,” it would buy gold from commercial banks at a negotiated price from April 8.
• More than 8 million users of the mobile payment application Cash App could have been impacted by a data breach, according to a filing this week through the U.S. Securities and Exchange Commission by parent company Block Inc.
• Walmart said it is boosting its 12,000 long-haul truck drivers’ starting pay. They deliver merchandise to its stores and Sam’s Clubs locations amid a U.S. shortage of drivers that threatens to prolong supply chain snarls and merchandise shortages.
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