US Equity Markets Rise as Tech Sector Paces Rally

US equity indexes closed higher Friday as tech stocks paced the rally.

* US existing home sales edged up 0.5% in November to a seasonally adjusted annual rate of 4.13 million, slightly below expectations for a 4.15 million pace, according to data from the National Association of Realtors.

* The University of Michigan's consumer sentiment index was revised down to 52.9 in December from a preliminary 53.3, falling short of the 53.5 forecast in a Bloomberg survey. The final reading was still above November's 51.0. Inflation expectations also eased, with respondents projecting a 4.2% rate for the next year and 3.2% over five years, down from 4.5% and 3.4% in November.

* January West Texas Intermediate crude oil rose $0.50 to settle at $56.65 per barrel, while February Brent crude, the global benchmark, was last seen up $0.75 at $60.57.

* Oracle (ORCL) shares rose 6.9% after the company reportedly joined Silver Lake and MGX in forming a new US-based joint venture with ByteDance's TikTok to manage the platform's American operations.

* Lamb Weston (LW) shares fell 26% in active trading after the company's fiscal Q2 adjusted earnings dropped from a year earlier, and the frozen food producer affirmed guidance on 2026 sales, disappointing some investors.