04:18 PM EDT, 06/27/2025 (MT Newswires) -- US benchmark equity indexes closed higher on Friday as the S&P 500 and the Nasdaq Composite rose to records after the US and China confirmed a trade framework and investors weighed the Federal Reserve's preferred inflation data.

* A spokesperson for the Chinese Ministry of Commerce said that China and the US have reached a consensus over a trade framework. Trade deals with 10 other countries are on the table, US Commerce Secretary Howard Lutnick said late Thursday.

* The personal consumption expenditures price index rose 0.1% in May, matching Bloomberg's survey expectations, Bureau of Economic Analysis data showed. The annual inflation rate climbed to 2.3% from 2.2% in April.

* Core PCE, which excludes food and energy, increased 0.2%, above the 0.1% forecast after a 0.1% rise the previous month. The yearly core rate rose to 2.7% from 2.6%.

* August West Texas Intermediate crude oil closed down $0.17 to settle at $65.07 per barrel, while August Brent crude, the global benchmark, was last seen falling $0.29 to $67.44.

* Nike ( NKE ) shares rose 15%. Fiscal Q4 results showed early signs of progress in a turnaround with a stronger-than-expected sales outlook and improving execution, UBS Securities said.

* Enphase Energy ( ENPH ) shares fell 4.9%, Sunrun ( RUN ) dropped 4.1%, SolarEdge ( SEDG ) lost 1.3% and First Solar ( FSLR ) declined 2.2% after big gains Thursday following a Bloomberg report that lawmakers are considering changes to a provision in President Donald Trump's spending bill that would eliminate tax credits for rooftop solar panels.