03:48 PM EDT, 08/28/2025 (MT Newswires) -- US equity indexes rose amid gains in communication services and technology ahead of the close on Thursday.

The S&P 500 advanced 0.3% to 6,502.2, after touching a new intraday high of 6,505.89. The Nasdaq Composite traded 0.6% higher at 21,712.8, and the Dow Jones Industrial Average climbed 0.2% to 45,637.2. Utilities and real estate led the decliners.

Economic growth, measured by gross domestic product, was revised up to 3.3% in Q2 from a 3.0% gain in the advance estimate, above a 3.1% increase expected in a survey compiled by Bloomberg. GDP fell by 0.5% in Q1.

Initial jobless claims fell to 229,000 in the week ended Aug. 23 from a downwardly revised 234,000 in the previous week, compared with expectations for a decrease to 230,000 in a survey of analysts compiled by Bloomberg. The four-week moving average rose by 2,500 to 228,500 compared with a downwardly revised 226,000 in the previous week.

Treasury yields were mixed, with the 10-year yield down 1.7 basis points to 4.22% while the two-year rate rose 1.4 basis points to 3.63%.

West Texas Intermediate crude oil futures fell 0.6% to $63.81 a barrel.

In company news, Nvidia ( NVDA ) reported Q2 results late Wednesday. While overall revenue rose year-over-year, Nvidia's ( NVDA ) data center compute products, such as its graphics processing units, declined 1% sequentially, driven by a $4 billion decrease in H20 chip sales, Chief Financial Officer Colette Kress said in a statement. For the current quarter, Nvidia ( NVDA ) projected $54 billion in revenue, plus or minus 2%, but said its forecast assumes no H20 shipments to China.

Liz Claman of Fox Business wrote Thursday in a post on X that Nvidia ( NVDA ) Chief Executive Officer Jensen Huang said that he is in talks with the Trump administration about selling Blackwell artificial intelligence chips to China and his willingness to give the US government a cut of those sales, citing an interview with the CEO.