**__ Diplomatt’s Daily Digest – May 2, 2022__**
Good morning and happy Monday, everyone! U.S. stock index futures were higher during early morning trading Monday after the Nasdaq Composite Index posted its worst month since 2008, pressured by rising rates, rampant inflation and underwhelming earnings from some of the largest technology companies. All of the major averages sank on Friday, accelerating April’s losses. The selling was even more extreme in the tech-heavy Nasdaq Composite, which plunged 13.26% in April, its worst month since October 2008. The steep decline follows underperformance from large tech companies, including Amazon, Netflix and Meta Platforms. Tech stocks have been hit especially hard since their often-elevated valuations and promise of future growth begin to look less attractive in a risingf362nate environment. Investors are looking ahead to Wednesday, when the Federal Open Market Committee will issue a statement on monetary policy. The decision will be released at 2 p.m. ET, with Federal Reserve Chairman Jerome Powell holding a press conference at 2:30 p.m. Another key economic indicator will come Friday when April’s jobs report is released. Earnings season is now more than halfway finished, but a number of companies are set to post results in the coming week, including a host of consumer-focused restaurant and travel companies. Expedia, MGM Resorts, Pfizer, Airbnb, Starbucks, Lyft, Marriott, Yum Brands, Uber eBay and TripAdvisor are just some of the names on deck.
Quote of the week: „Successful people do what unsuccessful people are not willing to do. Don’t wish it were easier; wish you were better.“ – Jim Rohn
• The United Nations and the International Committee of the Red Cross began evacuating civilians from the besieged southern port city of Mariupol with Zelensky meeting with Nancy Pelosi’s congressional delegation in Kyiv.
• EU antitrust regulators charged Apple with restricting rivals’ access to its NFC chip technology in a move that could result in a hefty fine for the iPhone maker and force it to open its mobile payment system to competitors.
• Amazon has a plan to deliver internet from space using 3,236 small satellites in low Earth orbit. It’s called Project Kuiper and has its aim set to compete with SpaceX’s starlink network.
• Comcast and Charter have entered into a join venture in an attempt to gain a market share nationwide in streaming-video distribution.
• Ford is recalling more than a quarter-million 2020-2022 explorer suvs because the SUVs can roll away even if they are placed in park gear, without the parking brake on.
• Airbnb is shifting to a complete remote work model, allowing its employees to work from anyhwere they are located.
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