04:18 PM EDT, 07/18/2025 (MT Newswires) -- US benchmark equity indexes closed mixed on Friday, following reports that President Donald Trump is pushing for more substantial tariffs on the European Union.

The Nasdaq was up 0.1% to 20,897.58 while the S&P 500 was little changed at 6,295.92. The Dow Jones Industrial Average fell 0.4% to 44,319.65. Among sectors, utilities led the gainers, while energy paced the declines.

US Treasury yields were lower, with the 10-year rate dropping 2.6 basis points to 4.43% and the two-year rate falling 2.9 basis points to 3.88%.

August West Texas Intermediate crude oil fell 0.3% to $67.36 a barrel on Friday.

Trump is advocating for a minimum tariff of 15% to 20% on EU goods, up from a baseline tariff of 10%, the Financial Times reported, citing unnamed sources.

In economic news, US consumer sentiment rose in July to the highest level in five months, while year-ahead inflation expectations dropped for a second month in a row, according to preliminary results from a University of Michigan survey.

"Consumers are unlikely to regain their confidence in the economy unless they feel assured that inflation is unlikely to worsen, for example, if trade policy stabilizes for the foreseeable future," Joanne Hsu, Surveys of Consumers director, said.

US housing starts rose more than expected last month as a double-digit percentage gain in multi-family projects helped offset weakness in single-family units, government data showed.

"We're expecting housing starts to fall below (1.3 million units) in the quarters ahead, with activity weighed down by elevated mortgage rates, softening housing demand, and an excess supply of completed new homes," Oxford Economics said.

In company news, Invesco ( IVZ ) shares were up 15%, the top gainer on the S&P 500, after the company's unit filed a statement with the US Securities and Exchange Commission to reclassify its tech exchange-traded fund QQQ Trust Series 1 as an open-ended fund from a unit investment trust. Invesco ( IVZ ) said in the filing that this shift will alter the expense structure of QQQ, benefiting the company through revenue and potential profits

Regions Financial ( RF ) was among the best performers on the S&P 500, up 6.1%, after the company reported higher Q2 adjusted earnings and revenue.

Elevance Health ( ELV ) shares sank 8.4%, among the worst performers on the S&P 500, a day after the company cut its full-year earnings guidance following a quarterly miss. On Friday, CEO Gail Boudreaux purchased 8,500 shares for $2.4 million.

Gold increased 0.4% to $3,357.70 per troy ounce, and silver was up 0.5% to $38.49 per troy ounce.