04:47 PM EDT, 06/27/2025 (MT Newswires) -- US equity indexes rose this week, with the S&P 500 and the Nasdaq Composite reaching new record highs, as the Iran-Israel ceasefire held and expectations grew for a dovish tilt to monetary policy amid optimism over trade deals.

* The S&P 500 closed at 6,173.07 on Friday versus 5,967.84 a week ago. The Nasdaq Composite stood at 20,273.46 compared with 19,447.41, and the Dow Jones Industrial Average was at 43,819.27 versus 42,206.82.

* Communication services and technology led the gainers. Among the mega-caps, Advanced Micro Devices ( AMD ) , Nvidia ( NVDA ) , and Taiwan Semiconductor Manufacturing Company ( TSM ) led the pack.

* West Texas Intermediate crude futures rebounded slightly on Friday after a sharp selloff earlier in the week as Iran and Israel agreed to a ceasefire.

* With a pause in hostilities, the focus shifted to tariffs as US Commerce Secretary Howard Lutnick confirmed a US trade deal with China and noted more agreements are in the pipeline involving 10 countries.

* Core personal consumption expenditures, the Fed's preferred inflation gauge, increased by 0.2% in May, above the 0.1% expected and following a 0.1% gain in April. The year-over-year rate accelerated to 2.7% from 2.6% in the previous month. The headline PCE price index rose 0.1% in May, as expected, lifting the year-over-year rate to 2.3% from 2.2%.

* President Trump's reported plan to name the next Fed chair as early as September pushed the dollar to a three-year low. Powell's term is due to end in May, and the normal protocol is to appoint a successor three to four months in advance to avoid confusion over policy direction.

* Markets are pricing a 47% probability of three 25-basis point interest rate cuts by December, versus 27% a week ago, with policy easing most likely to restart in September, according to the CME FedWatch Tool.