Stocks rebound | Goldman predicts half-point rate hikes | Nike shares rise

U.S. stocks rallied Tuesday as investors set their expectations for more aggressive interest rate hikes.

VIEW IN BROWSER | SUBSCRIBE TUE, MAR 22, 2022 EVENING BRIEF AS OF TUE, MAR 22, 2022 • 04:44 ET DJIA 34807.46 +0.74% +254.47 S&P 500 4511.61 +1.13% +50.43 NASDAQ 14108.82 +1.95% +270.36   Most Active DOW NAME LAST CHG %CHG AAPL 168.82 +3.44 +2.08% CSCO 56.17 +0.17 +0.30% VZ 51.00 -0.10 -0.20% S&P 500 NAME LAST CHG %CHG AMD 114.78 -1.14 -0.98% AAPL 168.82 +3.44 +2.08% F 17.09 +0.61 +3.70% NASDAQ NAME LAST CHG %CHG AMD 114.78 -1.14 -0.98% AAPL 168.82 +3.44 +2.08% PDD 47.53 +7.54 +18.85%   EDITOR'S NOTE U.S. stocks rallied Tuesday as investors set their expectations for more aggressive interest rate hikes.   The major averages finished the session higher, rebounding from losses Monday after Federal Reserve Chair Jerome Powell vowed to take "necessary steps" as "inflation is much too high." Powell said the central bank could raise rates by more than the previously forecast quarter-percentage-point hike per meeting.   Wall Street raised its expectations for rate hikes following Powell's comments. Goldman Sachs on Monday upped its forecast to half-point rate hikes at the May and June Fed meetings.   The benchmark 10-year U.S. Treasury yield at its highs of Tuesday hit 2.392%, its highest since May 2019. Bank stocks moved higher with rising rates, as Bank of America gained more than 3%. Meanwhile, Nike gained 2.2% after a better-than-expected quarterly report, boosted by strong demand in North America.   "Stocks have done okay … in recent sessions," U.S Bank Wealth Management's Lisa Erickson told "Squawk Box" on Tuesday. "It's on the back of what's going on fundamentally with the macroeconomy as well as with underlying company earnings."   "There has been some slowing, but, really, both of those factors have been quite resilient," Erickson added. Hannah Miao | CNBC Associate Markets Reporter @HannahMiao_ Watch our live stream for all you need to know to invest smarter. TOP NEWS  Stocks bounce as investors raise rate hike expectations after Powell's comments Zelenskyy calls for more pressure on Moscow as Ukraine says 15,000 Russian troops have been killed Supreme Court pick Ketanji Brown Jackson rejects GOP attack on her record: 'Nothing could be further from the truth' 10-year Treasury yield hits the highest since 2019 after Powell's remarks BuzzFeed investors have pushed CEO Jonah Peretti to shut down entire newsroom, sources say Stocks like ConocoPhillips and Wells Fargo should be the big winners as rates rise, history shows Mortgage rates are surging faster than expected, prompting economists to lower their home sales forecasts Warren Buffett is paying a relatively cheap price for his biggest takeover in six years, analyst says Traders bet on an aggressive Fed and predict half-point rate hikes in May, June Elon Musk breaks out the dance moves as he opens new Tesla factory in Germany   TOP VIDEO 'Risk is rising in the equity markets,' says Rockland Trust's Greg DiMarzio   CNBC PRO Retail investors just posted the longest streak of buying bank stocks since 2008, BofA says   SPECIAL REPORTS Two states are temporarily suspending their gas taxes and others could follow. But don't expect big savings Morehouse grads thrive after student debt wiped out   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