US benchmark equity indexes ended lower Friday as markets parsed the latest economic data.
* Data from the Bureau of Economic Analysis showed US consumer spending rose less than expected last month, while inflation slowed at monthly and annual levels. Growth in the Fed's preferred inflation measure -- which excludes the volatile food and energy components -- eased in line with the Street's projections.
* The US economy is expected to stay resilient to interest-rate increases as long as valuations remain elevated and unemployment remains low, Richmond Fed President Tom Barkin said, adding that he's proceeding "deliberately while keeping a close eye on the real economy."
* August West Texas Intermediate crude oil declined $0.37 to $81.37 per barrel, while August Brent crude, the global benchmark, was last seen up $0.01 at $86.41.
* Synchrony Financial (SYF) shares rose 6.5% as Baird initiated coverage with an outperform rating and a $56 price target.
* Nike (NKE) fell 20% after it logged a surprise decline in fiscal Q4 revenue even as its earnings outperformed estimates. The company also lowered its full-year revenue outlook.
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