07:07 AM EDT, 06/27/2025 (MT Newswires) -- The benchmark US stock measures were tracking in the green before Friday's open after President Donald Trump reportedly announced a trade deal with China, while investors take positions ahead of the personal income and outlays report for May.

The S&P 500 and the Dow Jones Industrial Average rose 0.2% each in premarket activity, while the Nasdaq added 0.3%. The indexes finished the previous trading session higher, with the Nasdaq recording its fourth consecutive day of gains.

Trump told reporters Thursday that the US and China have formally signed a trade agreement, without giving additional details, according to several media reports. A spokesperson for the Chinese Ministry of Commerce confirmed Friday that the two countries have reached a consensus over a trade framework to allow rare earth exports and easing of certain restrictive measures.

Earlier in June, Washington, DC, and Beijing agreed on a framework for implementing a pact that the two sides reached in Switzerland. Also, the White House on Thursday suggested that Trump could extend the suspension of reciprocal tariffs. The Trump administration in April suspended certain tariffs for 90 days for non-retaliating countries, with the deadline to expire on July 8. White House Press Secretary Karoline Leavitt told reporters that those cutoff dates are "not critical" and "could be extended," according to a CNBC report.

Last month's personal income report is scheduled for an 8:30 am ET release. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric. On Thursday, government data showed that the US economy contracted more than previously estimated in the first quarter as consumer spending weakened.

US Treasury yields were higher in the premarket, with the two-year rate rising 3.7 basis points to 3.75% and the 10-year rate gaining 2 basis points to 4.27%.

Friday's economic calendar also has the final University of Michigan consumer sentiment report for June. Preliminary results of the survey earlier in the month showed that consumer sentiment improved more than expected in June, while year-ahead inflation expectations dropped to their lowest level in three months.

New York Fed Governor John Williams is scheduled to speak at 7:30 am, while Cleveland Fed President Beth Hammack speaks at 9:15 am.

Shares of Nike ( NKE ) climbed 9.2% pre-bell after the sportswear giant shared details of how it plans to mitigate $1 billion in incremental costs related to tariffs, while recording better-than-expected fiscal fourth-quarter results. Li Auto's ( LI ) (LI) US-listed stock was down 2.8% after the Chinese electric vehicle maker lowered its delivery outlook for the second quarter.

West Texas Intermediate crude oil inclined 0.8% to $65.75 a barrel before the opening bell. The weekly Baker Hughes domestic oil-and-gas rig count is out at 1 pm.

Gold declined 1.4% to $3,303 per troy ounce, while bitcoin traded down 0.5% at $107,100.