Stocks jump for best week since 2020 | Fed’s Waller on half-point rate hikes | Picking winners when rates rise

Stocks rallied to their best week in more than a year.

VIEW IN BROWSER | SUBSCRIBE FRI, MAR 18, 2022 EVENING BRIEF AS OF FRI, MAR 18, 2022 • 05:03 ET DJIA 34754.93 +0.80% +274.17 S&P 500 4463.12 +1.17% +51.45 NASDAQ 13893.84 +2.05% +279.06   Most Active DOW NAME LAST CHG %CHG AAPL 163.98 +3.36 +2.09% VZ 50.80 -1.56 -2.98% CSCO 55.97 -0.20 -0.36% S&P 500 NAME LAST CHG %CHG AAPL 163.98 +3.36 +2.09% AMD 113.46 +1.77 +1.58% F 16.86 +0.28 +1.69% NASDAQ NAME LAST CHG %CHG AAPL 163.98 +3.36 +2.09% AMD 113.46 +1.77 +1.58% NVDA 264.53 +16.87 +6.81%   EDITOR'S NOTE Stocks rallied to their best week in more than a year despite being on a continued roller-coaster ride stemming from uncertainty at home and abroad.   On Friday, the Dow Jones Industrial Average jumped 274.17 points, or 0.8%. The S&P 500 advanced 1.1%, and the Nasdaq Composite leapt 2%. All of the major averages posted their best weeks since November 2020.   Tech shares led the gains Friday. Salesforce and Apple were among the top gainers in the Dow, rising 3.9% and 2%, respectively. Nvidia climbed 6.8%, and Meta Platforms gained 4.1%. Software companies were higher as well. The moves come as investors digested news of the Federal Reserve's rate hike decision, as well as a rise in Covid cases in Europe stemming from an emerging subvariant and the war between Russia and Ukraine.   On Friday, President Joe Biden spoke with Chinese President Xi Jinping to discuss Russia's invasion of Ukraine. Xi told Biden that the United States and China each had an obligation to promote peace.   Volatility continues to be a central theme for investors, particularly with the geopolitical uncertainty.   "We would normally feel much more bullish around any single factor having a good ability to level the volatility, but given this unprecedented level of very significant factors that could drive the markets one way or another, we don't see volatility normalizing over the next couple of months," Greg Bassuk, CEO of AXS Investments, told CNBC.   Tanaya Macheel | Markets and Investing Reporter @tanayamac Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow rallies more than 270 points Friday as stocks post their best week since 2020 China says Xi told Biden 'peace and security' are needed in Ukraine; missile strikes near Lviv Russia backs down on demands in Iran nuclear deal talks, making revival of 2015 pact imminent Fed Governor Waller says half-point rate hikes could be needed as 'inflation is raging' Russia seems to have averted its historic bond default — for now Jim Chanos reveals new short position in crypto exchange Coinbase These stocks win when the Fed starts hiking rates and Wall Street thinks they could triumph again Toyota, major chip supplier suspend production due to earthquake in Japan Goldman says these stocks have 'dislocated from the fundamentals' and are buys U.S. officials continue to press Russia for access to WNBA star Brittney Griner   TOP VIDEO I don't think Ukraine is going to have as much economic fallout as we thought, says Jim Paulsen   CNBC PRO After one of the worst starts to the stock market in 95 years, JPMorgan says it's time to buy   SPECIAL REPORTS A record number of weddings are expected this year. How to save if you're planning a trip down the aisle Millions of Americans make these 3 common tax mistakes, but here's how you can avoid them   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS