04:08 PM EDT, 03/28/2025 (MT Newswires) -- US benchmark equity indexes ended lower Friday after the latest data showed a surprise acceleration in the Federal Reserve's preferred inflation metric and a third straight monthly drop in consumer sentiment.

* US consumer spending rebounded last month, though the pace of growth fell short of Wall Street's expectations, while the Fed's preferred inflation metric unexpectedly accelerated, government data showed.

"Our current baseline calls for consumer spending growth to slow to 2% this year, and core inflation to breach back above 3% by mid-year," Oxford Economics said. "We think that combination will keep the Fed on extended pause, especially with inflation expectations showing increasing signs of becoming unanchored."

* US consumer sentiment fell for a third consecutive month in March as the expectations index slumped and the inflation outlook jumped amid economic policy uncertainties, according to a survey by the University of Michigan.

"This month's decline reflects a clear consensus across all demographic and political affiliations," Hsu said. "Consumers continue to worry about the potential for pain amid ongoing economic policy developments."

* May West Texas Intermediate crude oil closed down $0.78 to settle at $69.14 per barrel, while May Brent crude, the global benchmark, was last seen down $0.60 to $73.43 as markets were broadly weaker ahead of fresh tariffs coming from U.S. President Donald Trump next week.

* W. R. Berkley ( WRB ) was up 7.5%. The company said Mitsui Sumitomo Insurance has agreed to buy 15% of its stock through open market purchases or private transactions with third parties.

* Lululemon Athletica ( LULU ) shares fell nearly 15%. The athletic apparel and footwear company late Thursday provided a fiscal Q1 outlook below market estimates amid cautious consumer spending.

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