*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.
Dave Burg, EY Americas Cybersecurity Leader, joins Cheddar News to discuss the rise of quantum computing and how it can compromise existing security measures at play today, and what the timeline looks like for quantum computing to become a reality.
Getting you caught up on the stories you need to know this morning: Matthew McConaughey lends his voice to the gun control fight in congress, at least 30 people were injured in Germany after a car plows into a crowd, and a new weight loss drug shows promising results.
Michelle Bond, CEO of the Association for Digital Asset Markets, joins Closing Bell, where she breaks down the Responsible Financial Innovation Act, which would not only establish a regulatory structure for digital assets, but hand over crypto oversight to the CFTC instead of the SEC.
Caleb Silver, Editor-in-Chief at Investopedia, joined Closing Bell to break down what Target's lowered forecast means for the retail industry ahead of Friday's CPI report.
Jim Corridore, Senior Insights Manager at Similarweb, joined Closing Bell to break down the competing offers from JetBlue and Frontier as both airlines look to join forces with Spirit Airlines.
Child care marketplace startup Kinside announced raising $12 million in a Series A round led by venture capitalists who are mothers themselves. The company aids parents searching for affordable child care easier by providing concierge support in a marketplace of verified professionals and helping them tap into flexible spending accounts (FSA) and other benefits. Founder and CEO Shadiah Sigala joined Cheddar News to talk about the fresh funds and the ongoing effects of the pandemic on the care of young children.
Apple revealed its plans for new IOS software, products, and more at its Worldwide Developers Conference. However, new features added to iMessage, including options to delete and edit already sent text messages, stole the show.
Hyatt Hotels released new data showing just how seriously consumers are looking at summer 2022 for revenge travel following previous disruptions from the pandemic. Joan Bottarini, CFO of the hotel chain, joined Cheddar News to break down the report. "We've got on the books a 15 percent increase on a global basis in demand over the summer months from June to August," she explained.
