Good morning. US stock futures dipped in Wednesday morning trading as investors assessed the state of the global economy.

"Risk is a healthy respect for the unknown"

Dan Ivascyn

Top News

We're going higher!

WHAT: President of the Federal Reserve Bank of Cleveland Loretta Mester is taking no prisoners when it comes to inflation. She's suggesting that policymakers should crank up the benchmark rate to above 5% this year and keep it at "restrictive levels" for a while.

WHY: "Precisely how much higher rates will need to go from here and for how long policy will need to remain restrictive will depend on how much inflation and inflation expectations are moving downwards" Mester said as she delivered remarks at New York University.

Greenlight...go??

WHAT: UBS appears to be well on its way to consummate its Credit Suisse marriage. The European Commission has given them a temporary greenlight for the acquisition, but they still need to jump through a few hoops and get clearance under EU merger rules.

WHY: According to EU merger rules, companies can only complete deals after securing EU antitrust approval or face fines of as much as 10% of their aggregate turnover.

Even bigger than oil!

WHAT: The bigwigs at ExxonMobil have come up with a plan to save the planet and make boatloads of cash while they're at it. CEO Darren Woods reckons their Low Carbon business could bring in hundreds of billions of dollars in revenue and eventually surpass its oil business -- and all in just 10 years!

WHY: The largest US oil producer recently laid out to investors the aims of its emerging energy transition strategy in a meeting with Wall Street. The company said it is tackling carbon capture, hydrogen and biofuels which it estimates have a combined potential of $6.5 trillion by 2050.

Take Control Of Your Finances With Monarch Money!

It’s the same jig every month.

Get paid, then figure out how to deal with life’s ever growing expenses while putting something aside for that proverbial “rainy day”

Well the “jig is up” thanks to Monarch Money - the most easy-to-use platform that consolidates your financial life in one place!

With Monarch’s customizable dashboards, budget and financial goal trackers and personalized advice based on your unique situation, you have the tools to start reigning in your finances like a true king or queen - all rolled into one powerful app!

So what are you waiting for? Click here to join the Monarch family today and start living like royalty!

*Use code VINCENT for 10% off your annual subscription

*Thanks to our sponsors for keeping this newsletter free

In Other News

You can't have that...

 WHAT: Well that's a "sour note" for Apple in the trademark game! The company was hoping to register part of the federal trademark for "Apple Music" but a determined jazz musician had other plans!

WHY: The US Court of Appeals rejected Apple's argument that it had priority over trumpeter Charlie Bertini's "Apple Jazz" trademark rights based on its ownership of an earlier trademark from the Beatles music label Apple Corps Limited.

A different kind of "Activision"

WHAT: Activision Blizzard just got busted for some naughty behavior! A US labor agency accused them of violating federal labor law by playing "peek-a-boo" with their employees during a walkout — the company was caught illegally spying on their staff and threatening to shut down attempts at unionization.

WHY: Blizzard employees around the country staged a walkout last year to protest what they said was a lack of gender equality at the company.

"We'll pass on that London spread..."

WHAT: Looks like Microsoft is having some "commitment issues" — they just announced they're ditching their plans for a fancy new office complex in London.

WHY: The Redmond-Washington based company said it would cut its workforce by 5% this year as part of a broader tech pullback in hiring.

Key Economic Events

• Wednesday - No Major Economic News

• Thursday - Fed's Bullard Discusses The Economy

• Friday - US Unemployment Rate

Notable Briefs

• What can you expect as a job seeker in this market?

• Follow these rules used by Warren Buffett to become a better investor!

• Is it time to change your car?

• Was this forwarded to you? Sign up here.

• Want to advertise in Daily Market Briefs? Go here.