Dow Gains Nearly 300 Points As Stocks Wrap Up Best Week Since November 2020

Dow Gains Nearly 300 Points As Stocks Wrap Up Best Week Since November 2020

Share to Linkedin The stock market continued to rebound on Friday—with the S&P 500 notching its biggest weekly gain in more than a year—as investors react positively to the Federal Reserve's latest interest rate hike this week and continue to hope for some kind of resolution to the war between Russia and Ukraine. The Dow rose 0. 8%, nearly 300 points, while the S&P 500 gained 1. 2% and the tech-heavy Nasdaq Composite 2. 1%. Tech stocks led the market higher on Friday, while some consumer-related names also rallied: Shares of Apple rose 2. 1%, Microsoft 1. 8%, Nvidia 6. 8% and Nike 3%. Markets have taken a breather in recent days as investors continue to assess the ongoing war between Russia and Ukraine as well as the Federal Reserve's efforts to deal with high inflation; the central bank on Wednesday hiked interest rates for the first time since 2018. After announcing a 0. 25% rate hike and predicting six more increases this year, Fed chair Jerome Powell warned that higher energy prices as a result of the Russia-Ukraine conflict will likely "create additional upward pressure on inflation and weigh on economic activity." Investors remain hopeful for some kind of