*By Carlo Versano*
Stocks bounced back Friday with the Dow Industrials opening higher by 400 points and a strong showing from the FAANG stocks.
At the open, shares of Facebook ($FB), Amazon ($AMZN), Apple ($AAPL), Netflix ($NFLX), and Google parent Alphabet ($GOOGL) added $100 billion to the companies' collective market cap, erasing half the losses from the past two days.
The rally follows a bruising two-day sell-off on Wall Street. A bevy of factors has contributed to the worst week for stocks since February. Among them, worries over tightening monetary policy and the effects of a trade war with China starting to show themselves.
The White House dispatched top officials to quell concerns over the turmoil, even as the president extended his attack on Fed Chair Jerome Powell for what he called "loco" rate hikes.
Treasury Sec. Steve Mnuchin said on CNBC Friday that the markets were seeing a "natural correction" after riding so high since Trump's election. Economic adviser Larry Kudlow [told Cheddar](https://www.cheddar.com/videos/kudlow-tech-still-aint-bad-even-with-correction) tech stocks still "ain't bad" despite leading the markets downward.
Lawmakers grilled TikTok CEO Shou Zi Chew on Thursday in a high-stakes hearing on the future of the popular, Chinese-owned video sharing platform in the U.S.
Actress Lindsay Lohan appears at the Christian Siriano Fall/Winter 2023 fashion show in New York, Feb. 9, 2023. The Securities and Exchange Commission said Wednesday, March 22, that Lohan, rapper Akon and several other celebrities have agreed to pay tens of thousands of dollars to settle claims that they promoted crypto investments to their millions of social media followers without disclosing they were being paid to do so.
Cheddar News breaks down what to look for on The Day Ahead, as TikTok CEO is scheduled to testify before Congress on Thursday while earnings from General Mills and Darden Restaurants are on tap. Residential sales data for February is also scheduled to be released.
Virgin Orbit is reportedly in talks for a $200 million rescue plan and the company said in a regulatory filing that it plans to resume operations on Thursday.
Jack Daniels was at the U.S. Supreme Court today. The whiskey-makers argued that a dog toy company violated federal trademark law with a product that parodies the distiller's iconic bottle. The toy is the Bad Spaniels Silly Squeaker toy by VIP products. The first amendment case pits the rights of a famous trademark holder against parody products. Jack Daniel says the toy damages its reputation, especially the references to dog poop.
Alcohol brand White Claw is moving into spirits amid an industrywide shift away from hard seltzers. The spiked seltzer brand announced a new line of regular and flavored White Claw premium vodkas. The bottles are available in select markets across North America and come in an unflavored option as well as pineapple mango and black cherry white Claw has dominated the Heart Seltzer market for years. Now bringing the category into the mainstream as more consumers sought those low calorie alcohol drinks.
