S&P 500 ends volatile week as Fed hikes rates, yields jump, oil surges

[Wall street sign in New York with New York Stock Exchange background] naphtalina/iStock via Getty Images The benchmark S&P 500 (SP500 [https://seekingalpha.com/symbol/SP500]) inched up 0.1% at 7,650.50 points on Friday to close the volatile week that saw the Federal Reserve deliver its first interest rate hike in three years, Treasury yields climb above 5%, and oil prices remain above $100 a barrel. The index was down 0.1% for the week. The Fed raised its benchmark interest rate by 25 basis points on Wednesday to a range of 3.75%-4%. The 10-year Treasury yield briefly topped 5% during the week, reaching its highest level since 2007.