Michael Bromberg
3 min read
In This Article:
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The S&P 500 gained 0.5% on Friday, June 27, 2025, reaching an all-time closing high, as officials confirmed a trade framework between the U.S. and China.
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Nike shares took off after the sneaker and athletic apparel maker's quarterly results came in ahead of expectations.
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Signs of easing global tensions and a downtick in the Defense Department's budget request weighed on shares of data analytics firm Palantir Technologies.
Major U.S. equities indexes gained on the final day of the trading week as investors digested a mixture of trade policy news.
The S&P 500 advanced 0.5%, notching a record closing high. The Nasdaq Composite also reached its highest-ever closing level, lifted by a gain of 0.5% on Friday. The Dow was up 1%.
Commerce Secretary Howard Lutnick said the U.S. and China had agreed on a trade framework, with the countries confirming details agreed upon earlier this month. President Donald Trump, meanwhile, said he was ending trade talks with Canada.
Nike (NKE) shares skyrocketed 15%, posting the S&P 500's top performance on Friday, after the footwear and apparel company reported smaller-than-anticipated sales and profit declines for its fiscal fourth quarter. The results suggested that Nike is making progress on its turnaround plan under CEO Elliott Hill, who took the helm of the company last October. Nike executives said that the company could take a hit of up to $1 billion if tariffs remain at current levels.
Trade progress between the U.S. and China helped lift shares of aircraft manufacturer Boeing (BA), which climbed 5.9%. Analysts at Rothschild upgraded Boeing stock to "buy" from "neutral," highlighting an acceleration in production as well as improvements in the aviation giant's financial picture, culture, and safety processes.
Shares of data center real estate investment trust Equinix (EQIX) gained 5.3%, staging a partial recovery after suffering heavy losses over the past two trading days. Although this week's downturn related to the firm's muted growth forecasts and plans for major spending, Equinix remains a beneficiary of the demand for data center services driven by increasing adoption of artificial intelligence technologies.
Signs of easing geopolitical tensions weighed on shares of big data analytics software firm Palantir Technologies (PLTR), which has secured significant contracts with the U.S. military. In addition, a budget request from the Department of Defense for fiscal 2026 represented a downtick from the previous year. Palantir shares were down more than 9%, falling the furthest of any S&P 500 stock.
