US equity indexes were mixed on Friday as investors reacted to the University of Michigan's consumer sentiment falling to its lowest level since May, coupled with rising medium-term inflation expectations.

* The University of Michigan's preliminary consumer sentiment index fell to 55.4 in September from 58.2 in August, below the Bloomberg estimate of 58, while one-year inflation expectations held steady at 4.8%, matching the Bloomberg poll. Five-year inflation expectations rose to 3.9% from 3.5%, above the 3.4% consensus.

* The likelihood of a 75-basis-point interest rate cut by the end of the year ended the session at 74.6%, while the chance of a 50-basis-point reduction stood at 20%, with no chance of rates remaining uncut at the Sept. 17 meeting, according to the CME FedWatch tool.

* October West Texas Intermediate crude oil rose $0.14 to settle at $62.51 per barrel, while November Brent crude, the global benchmark, was last seen up $0.43 to $66.80.

* Paramount Skydance (PSKY) is preparing a majority offer backed by the Ellison family for Warner Bros. Discovery (WBD), The Wall Street Journal reported Thursday, citing unnamed sources. Warner Bros. shares rose nearly 17% before the close, making it the leading gainer on the S&P 500. Paramount Skydance stock ended 7.6% higher.

* Health officials in the Trump administration are reportedly planning to associate coronavirus vaccines with the deaths of 25 children, four sources told the Washington Post on Friday. Shares of Moderna (MRNA) declined about 7.4%, Pfizer (PFE) fell 4% and Novavax (NVAX) lost 3.6%.