By Yasin Ebrahim

Investing.com –  Stocks climbed Tuesday, as growth stocks sidestepped growing expectations for the Federal Reserve to turn more aggressive on rate hikes, while meme-stocks including GameStop returned to rally mode.  

They gained 0.7% or 254 points. The rose 1.1% and rose 1.9%.

James Bullard of the Federal Reserve Bank of St. Louis stated that it was important for the Fed’s rate rises to slow inflation and move more quickly.

The remarks arrived a day after Fed Chairman Jerome Powell said the central bank would be prepared to hike by more than 25 basis points at upcoming meetings to “ensure a return to price stability.”

Wall Street was quick to price in steeper hikes following Powell’s comments, with Goldman Sachs now forecasting a 50 basis point hike at the Fed’s May and June meetings.

The broader financial sector saw a more than 11% increase in its losses as a result of rising interest rates. Regional banks have paired some of these recent losses to help the sector.

SVB Financial (NASDAQ:), Wells Fargo (NYSE:), First Republic Bank (NYSE:) was the leader in moving higher.

Growth sectors of the market including big tech didn’t waver under the pressure of the rising yields.

Meta Platforms (NASDAQ) Amazon (NASDAQ) Microsoft (NASDAQ) Alphabet (NASDAQ) and Apple (NASDAQ) closed the day in green. 

Chinese tech stocks are also on the rise, supported by an increase in Alibaba Following the announcement of ecommerce, Group (NYSE) increased its sharebuyback program to record $25 Billion.

JD.com (NASDAQ) Pinduoduo On Tuesday, the (NASDAQ) stock rose as well.

Tesla (NASDAQ:) meanwhile, rose more than 7% shortly after Tesla’s Gigafactory opened in Berlin. The move is expected to boost Tesla’s market share in Europe.

The opening of Giga Berlin “should further vault its [Tesla’s] market share within Europe over the coming years as more consumers aggressively head down the EV path,” Wedbush said in a note Monday.

The earnings side of things Nike (NYSE:), a significant component of Dow Jones’ index, rose by more than 2% following reporting stronger-than-expected quarter-end results. 

“Recent results and commentary from senior leadership of the company show clearly that NKE is managing well various external headwinds, including ongoing supply chain distributions and geopolitical tensions, across the globe,” Oppenheimer said in a note. “We are optimistic that money will soon flow back into NKE shares.”

As oil prices fell, energy stocks lost some of the gains they had made the day before. Fears of an oil supply crisis kept losses under control as the European Union considers joining the U.S. to ban Russian oil.

Tuesday was also a day that saw the return to retail investor interest in so-called meme stock, GameStop (NYSE 🙂 soaring 30% and AMC Entertainment (+ 15% ) up 15%. Express Inc Close to 10% increase in (NYSE: