US benchmark equity indexes edged higher Friday as two Federal Reserve officials said the economy faced a high level of uncertainty.

The Nasdaq Composite rose 0.5% to 17,784.1. The S&P 500 and the Dow Jones Industrial Average inched 0.1% higher at 5,667.6 and 41,985.4, respectively. Among sectors, real estate saw the biggest decrease, while communication services led the gainers.

For the week, the Dow gained rose 1.2%, while the S&P 500 added 0.5%. The Nasdaq rose 0.2%.

New York Fed President John Williams said Friday the US economy is facing elevated uncertainty amid evolving fiscal and trade policies, though the current monetary policy stance places the central bank well to adjust to changing conditions.

"There are many scenarios that could play out, depending on fiscal and trade policies and geopolitical and other developments," Williams said.

Separately, Chicago Fed President Austan Goolsbee said the economy faces "a lot of uncertainty," CNBC reported. "If we can continue to make progress on inflation over the long run, I believe that rates 12 to 18 months from now will be lower than where they are today," Goolsbee reportedly said.

Earlier in the week, the Federal Open Market Committee decided to leave interest rates unchanged for a second straight meeting. Policymakers kept their federal funds rate outlook intact through 2027, while downgrading economic growth projections.

US Treasury yields were mixed Friday, with the two-year rate dropping nearly 1 basis point to 3.95% and the 10-year rate gaining 1.7 basis points to 4.25%.

President Donald Trump said there will be "flexibility" to his plans for reciprocal tariffs, which are scheduled to go into effect April 2, CNBC reported Friday. Trump, however, apparently opposed the idea of making exceptions.

West Texas Intermediate crude oil rose 0.3% to $68.28 a barrel.

In company news, Nike (NKE) shares slid 5.5%, the steepest decline on the Dow and among the worst on the S&P 500. The sportswear giant late Thursday flagged revenue and gross margin declines in its fiscal fourth quarter amid tariffs and the company's ongoing transformation efforts.

FedEx (FDX) shares slumped 6.5% Friday, among the steepest falls on the S&P 500. The parcel delivery company late Thursday lowered its fiscal 2025 outlook as third-quarter earnings growth fell short of Wall Street's expectations.

Boeing (BA) shares increased 3.1% Friday, the top performer on the Dow. The plane maker has reportedly won a multibillion dollar contract to design and build a fighter jet for the US Air Force, beating Lockheed Martin (LMT). Shares of Lockheed tumbled 5.8%.

Super Micro Computer (SMCI) shares jumped 7.8%, the best performer on the S&P 500, as JPMorgan upgraded the stock to neutral from underweight and adjusted its price target to $45 from $35.

Gold fell 0.5% to $3,027.4 per troy ounce, while silver lost 1.3% to $33.54 per ounce.