US markets were mixed last week as the Federal Reserve raised interest rates for the first time since 2023 and elevated energy prices kept inflation concerns in focus, creating a challenging backdrop for both stocks and bonds. The S&P 500 ended the week essentially flat as a midweek selloff after the Fed’s decision was largely offset by a rebound in technology and chipmaker shares. Treasury yields moved higher across most of the curve, with the 10-year closing above 5% for the first time since 2023. Economic data came in strong and provided more support for further potential tightening. August Retail Sales surged 1.2% month-over-month and Initial Jobless Claims fell to 196,000, one of the lowest readings since 1969. In the alternatives space, crude oil was volatile but finished little changed, while gold edged higher and digital assets rallied.