Date

**__ Diplomatt’s Daily Digest – May 23, 2022__**
Good morning and happy Monday, everyone! Stock futures rose early Monday, as the market tried to recover some of the losses from a relentless sell-off that has gripped Wall Street. The moves came after the S&P 500 on Friday dipped into bear market territory on an intraday basis. While the benchmark was down 20% at one point, it did not close in a bear market after a late-day comeback. Last week marked the Dow’s first eight-week losing streak since 1923, while the S&P 500 capped a seven-week losing streak, its worst since 2001. The Nasdaq saw its seventh negative week in a row for the first time since March 2001. The tech-heavy index also saw its lowest intraday level since November 2020 on Friday. Investors are looking ahead to a new batch of earnings this week, including an array of big retail names. Zoom Video is set to report results Monday followed by Costco, Nvidia, Dollar General, Nordstrom and Macy’s later in the week.

Quote of the week: „You have power over your mind – not outside events. Realize this, and you will find strength.“ – Marcus Aurelius

**General News:**
• Pfizer and BioNTech’s three-dose Covid vaccine for children six months to 5-years-old was 80% effective at preventing illness during the omicron wave.
• In a move to raise its economic profile and create another counterbalance to China within Asia, the United States announced on Monday the Indo-Pacific Economic Framework with Asian partners including Australia, Japan and the Republic of Korea.
• SpaceX is raising a massive round of fresh funding sending the private company’s valuation to about $127 billion, with the company looking to bring in up to $1.725 billion in new capital.
• Hyundai Motor announced plans to invest $5 billion in the U.S. by 2025 to further develop mobility technologies in areas like autonomous driving, robotics, and A.I.
• Two Texas parents are suing Apple after their son suffered permanent hearing loss from an amber alert that played while he had AirPods in.
• Broadcom is in talks to acquire cloud service provider VMware in a deal that could transform the chipmaker into a diversified tech firm.

**StockTwits Top 10 Trending Tickers of the Day:**
1. SIGA
2. XPEV
3. ZM
4. VTHO
5. NIU
6. PLUG
7. MBAC
8. FTM
9. HAL
10. ANC

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