Good morning. US stock futures moved higher in Tuesday morning trading as investors awaited consumer confidence data and home price index numbers.

"The main purpose of the stock market is to make fools of as many men as possible"

Bernard Baruch

Top News

TikTok gone in 30 days

• The White House has directed all government agencies to remove TikTok from their government devices within 30 days, citing security concerns over the Chinese-owned social media platform that has attracted increased scrutiny in Washington.

• "This guidance is part of the Administration's ongoing commitment to securing our digital infrastructure and protecting the American people's security and privacy" Chris DeRusha, the federal chief information security officer said.

Germany to the EU: More time needed to phase out combustion vehicles

• Germany has urged the European Union to permit the sale of combustion-engine cars using CO2-neutral fuels in Europe after 2035, when all cars are expected to be emission-free.

• Germany is home to car manufacturing giants like Volkswagen and BMW, the latter of which has warned against setting dates to ban fossil-fuel based car sales.

Yellen assures Ukraine of economic support

• US Treasury Secretary Janet Yellen reinforced the US's commitment to providing economic aid to Ukraine during her first visit to the war-ravaged nation.

• Yellen said following talks with Ukrainian officials that the US has provided nearly $50 billion in security, economic and humanitarian assistance, and announced another multi-billion package to boost the country's economy.

In Other News

Tesla's big tax break!

• Tesla could get over $300 million in tax abatements for 20 years for expanding its Nevada facility, as part of a 2014 deal to bring new jobs and investments to the region.

• Tesla projects it will bring in 3000 jobs at an average rate of $33.49 per hour and invest $3.6 billion into the Nevada economy, while covering health insurance for 91% of its employees.

Robinhood subpoenaed

• Stock trading platform Robinhood disclosed that it has been issued an investigative subpoena by the US Securities and Exchange Commission back in December regarding cryptocurrency listings.

• Robinhood said the subpoena was regarding the supported currencies at Robinhood Crypto LLC, which is a wholly-owned subsidiary of the brokerage, as well as its custody of cryptocurrencies and other platform operations.

Ponzi payment

• Toronto-Dominion Bank announced that it had agreed to pay over $1.2 billion to settle a lawsuit filed by investors who alleged the bank assisted R. Allen Stanford's $7 billion ponzi scheme over 10 years ago.

• Investors alleged that the bank "had actual knowledge of the wrongdoing" by Stanford his aides and entities and "nevertheless aided and stood by and watched" while Stanford engaged in activities that conflicted with the company's stated business model.

Key Economic Events

• Tuesday - Conf. Board Consumer Confidence

• Wednesday - No Major Economic News

• Thursday - Eurozone CPI M-o-M

• Friday - Fed's Bostic Discusses Research

Notable Briefs

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