(Sharecast News) - Major indices were in the green early on Friday as investors digested last month's personal consumption expenditures index.
As of 1445 BST, the Dow Jones Industrial Average was up 0.50% at 43,605.33, while the S&P 500 advanced 0.31% to 6,159.88 and the Nasdaq Composite came out of the gate 0.32% firmer at 20,233.22.
The Dow opened 218.49 points higher on Friday, while the S&P 500 and Nasdaq both surpassed their previous record highs in early trading as major indices finally bounced back from Donald Trump's "Liberation Day" tariff-fueled losses.
Sentiment got a boost after Donald Trump said a "very big" deal had been done with China, but did not provide any details, and added that there could be a separate agreement soon that would "open up" India. A White House official also said on Thursday that Washington and Beijing had reached an agreement on "how we can implement expediting rare earths shipments to the US again".
Traders also digested personal income and spending growth figures that undershot economists' forecasts in May, as well as a slightly stronger-than-expected reading on inflation. According to the Department of Commerce, in seasonally adjusted terms, personal incomes and spending fell by 0.4% and 0.1% month-on-month, respectively. Consensus had been for increases of 0.3% and 0.1%.
The headline PCE price deflator was 0.1% higher over the month and ahead by 2.3% in annual terms, both as expected. However, core PCE prices, the Fed's preferred inflation gauge, were up 0.2% month-on-month and 2.7% year-on-year.
Still to come, the University of Michigan's June consumer sentiment index will be published at 1500 BST.
In the corporate space, Nike posted better-than-feared Q4 earnings and revenue overnight but warned that Donald Trump's so-called "reciprocal" tariffs would cost it roughly $1.0bn this year, before price increases and supply chain shifts.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Dowdupont Inc. (DWDP) $0.00 0.00%
Walt Disney Co. (DIS) $121.46 0.00%
Johnson & Johnson (JNJ) $152.06 0.00%
Chevron Corp. (CVX) $144.44 0.00%
Travelers Company Inc. (TRV) $263.12 0.00%
Caterpillar Inc. (CAT) $381.72 0.00%
Microsoft Corp. (MSFT) $497.45 0.00%
Nike Inc. (NKE) $62.54 0.00%
Salesforce.Com Inc. (CRM) $270.62 0.00%
Apple Inc. (AAPL) $201.00 0.00%
Dow Jones - Fallers
Travelers Company Inc. (TRV) $263.12 0.00%
Caterpillar Inc. (CAT) $381.72 0.00%
Microsoft Corp. (MSFT) $497.45 0.00%
Nike Inc. (NKE) $62.54 0.00%
Salesforce.Com Inc. (CRM) $270.62 0.00%
Apple Inc. (AAPL) $201.00 0.00%
Dowdupont Inc. (DWDP) $0.00 0.00%
Walt Disney Co. (DIS) $121.46 0.00%
Johnson & Johnson (JNJ) $152.06 0.00%
Chevron Corp. (CVX) $144.44 0.00%
S&P 500 - Risers
Stryker Corp. (SYK) $390.45 0.00%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $457.66 0.00%
Waters Corp. (WAT) $355.65 0.00%
QUALCOMM Inc. (QCOM) $158.19 0.00%
3M Co. (MMM) $150.76 0.00%
Harley-Davidson Inc. (HOG) $23.70 0.00%
Jefferies Financial Group Inc. (JEF) $56.18 0.00%
Arista Networks Inc. (ANET) $101.71 0.00%
Caterpillar Inc. (CAT) $381.72 0.00%
Constellation Brands Inc. Class A (STZ) $161.31 0.00%
S&P 500 - Fallers
Stryker Corp. (SYK) $390.45 0.00%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $457.66 0.00%
Waters Corp. (WAT) $355.65 0.00%
QUALCOMM Inc. (QCOM) $158.19 0.00%
3M Co. (MMM) $150.76 0.00%
Harley-Davidson Inc. (HOG) $23.70 0.00%
Jefferies Financial Group Inc. (JEF) $56.18 0.00%
Arista Networks Inc. (ANET) $101.71 0.00%
Caterpillar Inc. (CAT) $381.72 0.00%
Constellation Brands Inc. Class A (STZ) $161.31 0.00%
Nasdaq 100 - Risers
KLA-Tencor Corp. (KLAC) $902.94 0.00%
NetEase Inc. Ads (NTES) $132.92 0.00%
Fastenal Co. (FAST) $41.30 0.00%
Automatic Data Processing Inc. (ADP) $302.98 0.00%
Illumina Inc. (ILMN) $94.16 0.00%
Seagate Technology Plc (STX) $140.69 0.00%
J.B. Hunt Transport Services Inc. (JBHT) $143.28 0.00%
Kraft Heinz Co. (KHC) $25.79 0.00%
Mondelez International Inc. (MDLZ) $67.75 0.00%
Alexion Pharmaceuticals Inc. (ALXN) $0.00 0.00%
Nasdaq 100 - Fallers
Western Digital Corp. (WDC) $63.51 0.00%
Incyte Corp. (INCY) $70.81 0.00%
Hasbro Inc (HAS) $72.31 0.00%
Gilead Sciences Inc. (GILD) $107.62 0.00%
Amgen Inc. (AMGN) $279.11 0.00%
Microchip Technology Inc. (MCHP) $70.78 0.00%
Align Technology Inc. (ALGN) $187.74 0.00%
Workday, Inc. (WDAY) $237.21 0.00%
Alphabet Inc. Class A (GOOGL) $173.54 0.00%
Baidu Inc. (BIDU) $86.46 0.00%
63.31 (0.72%)
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