12:34 PM EDT, 06/27/2025 (MT Newswires) -- US equity indexes rose, with the S&P 500 and the Nasdaq Composite touching new record highs, as investors weighed the Federal Reserve's preferred inflation data amid growing optimism for international trade tariff agreements.

The Nasdaq climbed 0.7% to 20,297.1, after hitting an all-time high of 20,311.51 earlier in the session. The S&P 500 added 0.7% to 6,183.5, scaling a new 6,184.73 peak before midday. The Dow Jones Industrial Average jumped 1.2% to 43,903.4. All sectors except energy advanced intraday, with consumer discretionary and industrials leading the pack.

In economic news, the personal consumption expenditures, or PCE, price index rose by 0.1% in May, as expected in a Bloomberg-compiled poll, lifting the year-over-year rate to 2.3% from 2.2%, the Bureau of Economic Analysis said Friday. The price index also rose by 0.1% month-over-month in April.

The core PCE price index increased by 0.2%, 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.

Most Treasury yields rose, with the 10-year up one basis point to 4.26% and the two-year traded 2.7 basis points higher at 3.74%.

In energy markets, West Texas Intermediate crude oil futures rose 1% to $65.89 a barrel.

With the Iran-Israel ceasefire holding, the focus also shifted to international trade tariffs. US Commerce Secretary Howard Lutnick confirmed the trade deal between the US and China, with more expected from 10 partners soon. This is positive for markets, especially before the July 9 tariff deadline set by President Donald Trump, ING analysts said in a note.