Good morning. US stock futures dipped in Monday morning trading as investors looked ahead to a week filled with economic data and the latest commentary from the Federal Reserve.

"Human likes and dislikes will wreck any investment program"

Gerald Loeb

Top News

US preparing new rules on offshore tech investments

• According to a report from the Wall Street Journal, the US Treasury Department is developing a program that may forbid US investment in specific sectors of adversary nations.

• The new rules are expected to cover private-equity and venture-capital investments in advanced semiconductors, supercomputing and some forms of artificial intelligence the report stated, citing people familiar with the matter.

ECB head: Eurozone inflation likely sticky

• European Central Bank President Christine Lagarde said in a recent interview that a 50 basis point interest rate hike by the ECB later this month is becoming more certain as underlying inflation in the Eurozone is expected to remain high in the near term.

• "In the short term, core inflation is going to be high, and we must continue to take whatever measures are necessary to bring inflation back to 2%" Lagarde told a Spanish media outlet.

Canada tightens mining rules

• Junior mining companies specializing in the production of green energy metals such as nickel and lithium have expressed concerns about Canada's recent crackdown on some overseas investors.

• Last fall, the Canadian government proposed bolstering its Investment Canada Act (ICA) to give ministers power to block or unwind critical minerals investments if they believe such deals threaten national security.

In Other News

iPhone's heading to India?

• Foxconn Technology Group, Apple's manufacturing partner, is reportedly investing around $700 million in a new Indian plant to increase local production amid rising tensions between Washington and Beijing.

• The new production site in India is expected to create about 100,000 jobs, and represents one of Foxconn's biggest single outlays to date in India.

Back to basics for Bankman-Fried

• The US Justice Department stated that Sam Bankman-Fried, former CEO of bankrupt crypto marketplace FTX, can have a basic laptop with limited functions and a flip phone with no internet capability while on bail.

• US District Judge Lewis Kaplan signaled in February that he might jail Bankman-Fried for testing the limits of his $250 million bail package by communicating in ways that could not be monitored.

Green Apple...

• Apple topped the 2023 Clean 200 list put together by research firm Corporate Knights and nonprofit shareholder activist As You Sow as the company with the most "green" revenue.

• The report said Apple topped the list with $259 billion in sustainable revenue with an estimated 71% of the tech giants revenue coming from sustainable sources.

Key Economic Events

• Monday - No Major Economic News

• Tuesday - US Semi-Annual Monetary Policy Report

• Wednesday - ECB's Lagarde Speaks, US Trade Balance

• Thursday - No Major Economic News

• Friday - US Unemployment Rate

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