**__ Diplomatt’s Daily Digest – April 26, 2022__**
Good morning and happy Tuesday! Stock futures fell slightly on Tuesday a day after a big reversal in markets gave some traders hope the April sell-off was nearing an end. The bounce was welcomed by investors after stocks ended the previous week on a sour note, with the Dow falling to its fourth down week in a row and the S&P and Nasdaq hitting three-week losing streaks Friday. Monday’s reversal was led by names like Microsoft, Alphabet and Meta Platforms, which rallied in the afternoon amid falling interest rates and ahead of an intense week of earnings for mega cap tech stocks. Alphabet and Microsoft were slightly higher in premarket trading Tuesday before their quarterly reports after the bell. Meta, Amazon and Apple will report later in the week. Between the continuation of earnings beats and a quiet period from the Federal Reserve, there will likely be a relief rally in the market.
Quote of the week: “Good things come to people who wait, but better things come to those who go out and get them.” —Anonymous
• Twitter has accepted Elon Musk’s $44 billion bid to buy Twitter.
• Mainland Chinese stocks struggled for direction Tuesday, wavering between gains and losses as Covid fears took hold with Beijing expanding mass testing.
• The Biden administration is aiming to expand access to Covid-19 oral antiviral treatments like Pfizer’s Paxlovid by doubling the number of locations at which they are available.
• UPS shares jumped 2% in premarket trading after the shipper’s quarterly earnings and revenue topped expectations. UPS also reaffirmed its guidance. 3M shares added 1% in premarket trading after first quarter revenue topped expectations.
• PepsiCo reported quarterly earnings and revenue that topped analyst expectations, as consumers paid more for their Doritos, Quaker oatmeal and Gatorade.
• BMW and Volkswagen’s premium Audi brand have suspended shipments of cars by rail from Germany to China following the war in Ukraine.
• General Motors will produce an electrified Chevrolet Corvette next year, followed by an all-electric version of the iconic sports car.
• SpaceX’s Starlink has inked a deal to become the inflight Wi-Fi provider for Hawaiian Airlines.
• Ram teased its upcoming electric 1500 pickup truck, which is scheduled to go into production in fall 2022.
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