Good morning. US stock futures inched higher in Friday morning trading as investors pondered the Federal Reserve's rate hike path in light of fresh commentary from central bank speakers.

"It's far better to buy a wonderful company at a fair price, than a fair company at a wonderful price"

Warren Buffett

Top News

US expands China export ban

• The Biden Administration announced additional export restrictions on certain Chinese entities, including server maker Inspur Group, and units of genetics firm BGI, citing actions against US national security and foreign policy.

• The move is part of the ongoing efforts by the US government to address growing concerns about the security risks posed by certain Chinese technology companies.

Fed officials: We're not done raising rates

• Two Federal Reserve officials have warned that the US economy's recent strong-than-anticipated performance might result in them increasing interest rates by a larger margin than previously anticipated.

• Governor Christopher Waller and Atlanta Fed President Raphael Bostic uttered similar sentiments speaking at different events around raising rates in the face of hotter than expected payroll and inflation data.

Retail chain exiting Canada

• Nordstrom has declared that it will shutdown all of its stores in Canada and eliminate 2500 jobs as it wraps up its operations in the country.

• The Seattle-based retailer has six Nordstrom and seven Nordstrom Rack stores in Canada which will be shuttered by June.

In Other News

Pay with WhatsApp...in Brazil!

• Brazil's central bank gave the greenlight for Meta Platforms to launch payment services for small and medium sized businesses in Brazil through messaging app WhatsApp.

• The approval comes as Meta seeks to use the Brazilian market as a key test space for business messaging, an area that has assumed greater urgency as Meta's core advertising business faces current industry headwinds.

"Unhealthy" food dominates big food brands

• The results of a recent survey show that food and beverage products sold by four out of five major global producers in three major markets are considered "unhealthy", with Kraft Heinz identified as the worst performer in the group.

• The analysis conducted by the World Action on Salt, Sugar and Health, an NGO, selected 2,346 products sold by Danone, Kellogg, Kraft Heinz, Nestle and Unilever in Australia, France and Mexico.

Pier 1, RadioShack trying to stave of bankruptcy

• According to sources familiar with the matter, the owner of Pier 1 Imports and RadioShack is exploring the possibility of securing funding from investors in the event of a potential bankruptcy.

• Retail Ecommerce Ventures LLC is considering pledging the intellectual property of some of the brands it owns to raise money people with intimate knowledge of the matter said.

Key Economic Events

• Friday - Fed's Bostic Discusses Research

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