12:42 PM EDT, 06/27/2025 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Friday with the S&P 500 and Nasdaq Composite touching new record highs.

The personal consumption expenditures price index rose by 0.1% in May, the Bureau of Economic Analysis said Friday, matching both expectations from a survey conducted by Bloomberg and the previous month's print. The core PCE price index, which excludes food and energy prices and is the Federal Reserve's preferred measure of inflation, rose by 0.2%, above the 0.1% gain expected and above the 0.1% increase in April.

Nike ( NKE ) reported fiscal Q4 net income late Thursday of $0.14 per diluted share, down from $0.99 a year earlier but above the FactSet consensus analyst estimate of $0.12. Fiscal Q4 net sales were $11.1 billion, down from $12.61 billion a year earlier but above the FactSet consensus of $10.73 billion. Chief Financial Officer Matthew Friend said on an earnings call that US tariffs are expected to make a 100-basis point negative impact on the company's gross margins. Friend said the company expects a gross incremental cost increase of about $1 billion due to new tariff rates that are currently in place. Nike ( NKE ) shares were up 17.3% around midday.

The Trump administration is preparing a group of executive actions targeting the enhancement of energy supply needed to boost artificial intelligence expansion in the US, Reuters reported, citing sources familiar with the matter. Among the orders under consideration are plans to make it easier for power-generating projects to connect to the grid and the provision of federal land to build the necessary data centers to expand AI technology, the sources told Reuters. Shares of Microsoft ( MSFT ) , Meta Platforms ( META ) , Amazon.com ( AMZN ) and Alphabet (GOOG) were up 0.1%, 0.4%, 1.2% and 0.2%, respectively. Shares of Constellation Energy ( CEG ) were up 0.3%.

The US Supreme Court on Friday overturned a lower court's ruling that the US Preventive Services Task Force under the Affordable Care Act is composed of members who were not validly appointed. In so doing, the Supreme Court preserved a key element of the ACA that helps guarantee that health insurers cover preventive care such as cancer screenings at no patient cost. Shares of UnitedHealth Group ( UNH ) , Elevance Health ( ELV ) , CVS Health ( CVS ) and Centene ( CNC ) were up 1.1%, 1.0%, 0.5% and 0.4%, respectively.

Unilever ( UL ) will pay $1.5 billion to acquire Dr. Squatch, the Financial Times reported Thursday, citing people familiar with the details. The deal, which was announced Monday, is expected to close later this year, subject to customary regulatory approvals and closing conditions. Unilever ( UL ) shares were up 0.6%.

Democratic US Senator Maggie Hassan said she is opening an investigation into GSK's (GSK) decision to discontinue a widely used asthma inhaler for children, Reuters reported Friday, citing a letter sent by the senator to the company it has seen. GSK shares were up 0.7%.

Nvidia ( NVDA ) chip restrictions by the US government may have curbed DeepSeek's rise for the time being, The Information reported Thursday, citing sources familiar with the matter. The recent US ban on exporting Nvidia's ( NVDA ) H20 chips to China may have slowed down adoption of DeepSeek's upcoming large language model R2 in China because the models are fully optimized for Nvidia's ( NVDA ) hardware and software, according to the report. Nvidia ( NVDA ) shares were up 1.7%.

Price: 72.87, Change: +10.33, Percent Change: +16.52