*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.
Keith Barr, CEO of InterContinental Hotel Group, says he is expecting an 'incredible' summer for his business as pandemic conditions have normalized and people are ready to travel.
Dann Ryan, Chief Investment Officer at Sincerus Advisory, discusses what drove markets lower on Wednesday, as well as what investors are anticipating when it comes to the upcoming CPI report and Fed decision.
U.S. stocks close Tuesday at session highs after a subpar start to the trading day. Tim Chubb, Chief Investment Officer at the wealth advisory firm, Girard, joins Cheddar News' Closing Bell to discuss. 'We're starting to see the moderation of three core things -- we've seen the moderation of prices, we've seen the moderation of wage growth we've seen in the labor market, and we've also seen a moderation of job openings,' he says.
The victims from the USA gymnastics sexual abuse scandal continue to seek justice. Survivors of Larry Nassar are seeking more than one-billion dollars from the FBI for failing to stop the convicted sports doctor when the agency first received allegations. According to a report released by the Justice Department's Inspector General, FBI agents knew
in July of 2015 that Nassar was accused of abusing gymnasts; however, Nassar wasn't arrested until December of 2016. The group that filed the claim includes Olympic medalist Simone Biles and around 90 other women. Louise Radnofsky, sports reporter at The Wall Street Journal, joins Cheddar News' Closing Bell to discuss.
A controversial professional golf tour backed by Saudi Arabia tees off on Thursday. Today, two-time Major winner Dustin Johnson announced he's resigned from the PGA Tour ahead of headlining the Saudi-backed tour, called the LIV Golf Invitation Series. The announcement comes as the PGA tour has threatened disciplinary action for its golfers who take part in the Saudi golf league event, which will also feature notable golf stars like Phil Mickelson and Sergio Garcia; however, LIV Golf's CEO, Greg Norman, told The Washington Post that Tiger Woods rejected a contract worth 'high nine digits' to play in the tour. Chris Bumbaca, reporter for USA Today Sports, joins Cheddar News' Closing Bell to discuss.
CreditCards.com senior industry analyst Ted Rossman compares the Apple Pay Later offering to similar four-step processes at Affirm and Klarna, and says this is a way for the tech giant to dive deeper into the financial industry.
Tech analyst Rene Ritchie discusses new EU legislation that will force iPhones to use a USB-C charger in fall 2024 and what that means for Apple's strategy in Europe.
Catching you up on the stories you need to know this morning, mass shooting victims testify on Capitol Hill, the White House outlines its plan to vaccinate kids younger than five years old, and we break down how to protect yourself from monkeypox.
