U.S. stocks end mostly higher after another up-and-down day

Major U.S. indexes closed mostly higher Friday, and several of them notched weekly gains, despite a recent run of daily swings on Wall Street as traders try to figure out what’s next for the economy.

The indexes alternated nearly every day this week between gains and losses. Investors are trying to suss out what’s next for inflation and the global economy as the repercussions ofThe benchmark S&P 500 posted a 1.8% gain for the week. That follows a 6.2% rise last week. The tech-heavy Nasdaq and Dow have also posted a weekly gain now the past two weeks.Bond yields rose significantly. The yield on the 10-year Treasury jumped to 2.48% from 2.34% late Thursday.

The S&P 500 rose 22.90 points to 4,543.06. The Dow gained 153.30 points to 34,861.24, and the Nasdaq fell 22.54 points to 14,169.30.Banks and energy stocks accounted for a big share of the S&P 500’s gains. The rise in bond yields helped lift banks, which rely on higher yields to charge more lucrative interest on loans. Bank of America rose 1.5%.

The price for U.S. benchmark crude oil rose 1.4% to settle at $113.90 per barrel, while a barrel of Brent crude, the international standard, rose 1.4% to $120.65. Prices are still up about 50% globally for the year. The pickup in oil prices helped lift energy stocks. Exxon Mobil gained 2.2%.

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