News: Sentiment positive following Las Vegas shows. Fairs had busy visitor traffic; jewelers with good liquidity after profitable 2021 bought vigorously ahead of holiday season. US jewelry sales +22% in May, says Mastercard. High end robust. Consumers purchasing diamonds as hedge against inflation and stock market slump. Many concerned about rising cost of living as Fed hikes interest rates 0.75%. Some factories receiving Alrosa goods despite ban; industry uncertain how this will impact market. Rough trading slows after De Beers sight. Chow Tai Fook cautious about short-term China economy as Apr./May sales -13%. Blue Nile to go public with $873M valuation. LVMH invests in lab-grown producer Lusix via $90M funding round.

In-depth analysis exploring the three primary forces impacting the diamond market: the Russian invasion, economic transformation and social responsibility.

Rapaport’s Joshua Freedman and Avi Krawitz discuss trends and sentiment at the Las Vegas shows, which tend to set the tone for the industry moving into the second half of the year.