"Stocks Rise After Fed's Hawkish Tone, Await More Data"

Stocks opened higher on Friday, rebounding after the S&P 500 and Nasdaq snapped their longest winning streak in two years. The Dow Jones Industrial Average rose by about 0.5%, while the Nasdaq Composite and S&P 500 gained about 0.3% and 0.4% respectively. The rebound comes after a jump in bond yields and a more hawkish tone from Federal Reserve Chair Jerome Powell. Powell described the Fed's policy as "restrictive" and emphasized that rate hikes were still on the table. In other news, Plug Power shares plummeted over 30% after the company warned about its ability to continue as a going concern, while Diageo shares fell about 15% due to weaker sales in Latin America and the Caribbean.