It was updated on Mar 18, 2022, at 04:33pm.
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.
Well done! The Federal Reserve's clarity helped boost the stock market.
The S&P 500 gained 1.2% and the tech-laden Nasdaq was up 2%.
The S&P 500 rose 5% this week, its best week since November 2020, while the other two major stock markets also rose.
Tech stocks led the market higher on Friday, while some consumer-related names also rallied.
The Federal Reserve's efforts to deal with high inflation as well as the ongoing war between Russia and Ukraine have caused investors to take a break in recent days.
The Fed chair warned that higher energy prices as a result of the Russia-Ukraine conflict will likely create additional upward pressure on inflation and weigh on the economy.
Even as heavy fighting continues in several major Ukrainian cities, investors are still hopeful for some kind of resolution to the conflict.
Even as volatility remains intense, the markets are showing remarkable resilience. The stock market has rallied in recent days due to optimism for a resolution to the Russia-Ukraine conflict.
The price of oil was up 1.6% on Friday, after falling as low as $126 per barrel earlier in the week. The price of West Texas Intermediate is $104 per barrel, while the international benchmark is around $107 per barrel.
The end of another long week has Wall Street bracing for another roller-coaster ride. Financials have been oversold for too long and energy stocks might have hit their peak as markets have already priced in higher oil prices.
Analysts reveal their top stock picks.
Powell announced a 0.25 increase in the Federal Reserve's rate.
After the Fed raised rates, the stock market jumped.
Stagflation is predicted by most Wall Street experts.
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