US benchmark equity indexes ended lower Friday as markets analyzed the latest reading of the Federal Reserve's preferred inflation metric, as well as corporate earnings.

* Official data showed that US consumer spending growth accelerated at the end of 2024, while the Fed's preferred inflation gauge held steady at the annual level.

"Despite the tamer price and wage figures, robust consumer spending and uncertain trade policies will likely keep the Fed sidelined in the months ahead," BMO Capital Markets said in a note.

* Fed Governor Michelle Bowman said that policymakers should take a "cautious and gradual" approach to adjusting monetary policy amid upside risks to inflation.

* "In light of the ongoing strength in the economy and with equity prices substantially higher than a year ago, it seems unlikely that the overall level of interest rates and borrowing costs are exerting meaningful restraint," Bowman said.

* March West Texas Intermediate crude oil closed down $0.19 to settle at $72.54 per barrel, while March Brent crude, the global benchmark, was last seen down $0.10 to $76.77 as traders awaited clarity on whether the Trump Administration will include oil products in its plan to begin imposing 25% tariffs on imports from Canada and Mexico on Feb.1.

* AbbVie (ABBV) posted better-than-expected Q4 results Friday amid robust sales of Skyrizi and Rinvoq, prompting the drugmaker to lift its long-term combined revenue outlook for the two immunology drugs. Its shares were up 5.4%.

* Warner Bros. Discovery (WBD) and Cutting Edge Group said Friday they have formed a joint venture to co-own and manage Warner's huge catalog of film and TV music. Warner Bros. shares were down 1.7%.