01:07 PM EDT, 06/28/2024 (MT Newswires) -- US equity indexes were mixed Friday with the S&P 500 and the Nasdaq Composite giving up earlier gains, while most government bond yields rose after fresh data showed inflation in line with expectations.

The Nasdaq fell 0.2% to 17,819.2, with the S&P 500 down less than 0.1% to 5,481.8. The Dow Jones Industrial Average was up less than 0.1% to 39,182.9. Energy and financials led the gainers, while utilities, communication services and consumer discretionary were among the decliners.

The US 10-year Treasury yield jumped 6.9 basis points to 4.36%, with the two-, five-, and 30-year rates also advancing.

In economic news, the personal consumption expenditures price index was flat in the month, as expected, below the 0.3% gain in April, according to the Bureau of Economic Analysis. The year-over-year rate slowed to 2.6% from 2.7% in the previous month. The core PCE price index increased by an expected 0.1%, below the 0.3% gain in April. The year-over-year rate slowed to 2.6% from 2.8% in the previous month.

The University of Michigan consumer sentiment index was revised upward to 68.2 for June from the 65.6 print in the preliminary estimate, compared with expectations for 66 in a survey compiled by Bloomberg. That was still below the final reading of 69.1 in May. Respondents in the Michigan survey expected a 3% inflation rate over the next year, down from 3.3% in May, while their expectation for annual inflation over the next five years remained at 3% for the third straight month.

The Institute for Supply Management's Chicago PMI reading increased to 47.4 in June from 35.4 in May, higher than the 40 consensus in a survey compiled by Bloomberg. The reading still indicates contraction, in line with almost all regional manufacturing data released earlier, except the readings from the Philadelphia Fed and S&P Global flash estimate that indicated expansion.

The current probability of an interest-rate cut in September at almost 60% is close to double the 34% likelihood of the Federal Open Market Committee leaving policy unchanged, according to the CME Group's FedWatch Tool.

West Texas Intermediate crude oil fell 0.6% to $81.26 a barrel.

In company news, Wedbush Securities cut Nike's ( NKE ) price target to $97 from $115 while maintaining its outperform rating after "very choppy" fiscal Q4 earnings. Shares plummeted 20%, the biggest drop on the S&P and the Dow.

Synchrony Financial ( SYF ) shares jumped 5.2%, the biggest gain on the S&P, after Baird initiated coverage with an outperform rating and a price target of $56.

Gold rose 0.2% to $2,342.42 an ounce, and silver jumped 1.1% to $29.59.