04:25 PM EDT, 06/27/2025 (MT Newswires) -- US benchmark equity indexes closed higher on Friday, after the US and China agreed on a trade framework.

The Nasdaq was up 0.5% to 20,273.46 while the S&P 500 increased 0.5% to 6,173.07. The Dow Jones Industrial Average rose 1% to 43,819.27. Among sectors, consumer discretionary led the gainers, and energy had the steepest decline.

US Treasury yields were mostly higher, with the 10-year rate increasing 1.6 basis points to 4.27% and the two-year rate rising 2.1 basis points to 3.74%.

August West Texas Intermediate crude oil fell 0.2% to $65.14 a barrel on Friday.

In economic news, US consumer spending unexpectedly declined last month as outlays on goods turned negative, while the Federal Reserve's preferred inflation metric accelerated, government data showed.

Personal consumption expenditure inflation remained "benign in May, but we are only just starting to see the impact of tariffs in consumer goods prices, and several favorable one-offs depressing inflation over the past few months will go into reverse from June onwards," Oxford Economics said. "Despite the slowing economy, the upside risks to inflation will keep the Fed on the sidelines until much later in the year."

US consumer sentiment rose for the first time in six months in June, final survey results from the University of Michigan showed, confirming its initial findings. Year-ahead inflation expectations dropped to 5% this month from 6.6% in May, while the long-run outlook decreased to 4% from 4.2%.

"Consumers continue to be concerned about the potential impact of tariffs, but at this time they do not appear to be connecting developments in the Middle East with the economy," Surveys of Consumers director Joanne Hsu said.

In company news, Nike ( NKE ) shares jumped 15%, the best performer on the Dow and the S&P 500. On Thursday, the sportswear giant said it plans to offset tariff costs by raising US prices and reducing China footwear imports.

Plane maker Boeing ( BA ) rose 5.9%. The second-top gainer on the Dow and among the best on the S&P 500.

Enphase Energy ( ENPH ) shares were down 4.9%. Other solar companies, Sunrun ( RUN ) , First Solar ( FSLR ) , and SolarEdge ( SEDG ) declined 4.1%, 2.2% and 1.3%, respectively.

Gold decreased 1.9% to $3,284.40 per troy ounce, and silver was down 2.3% to $36.08 per troy ounce.