02:27 PM EST, 02/27/2025 (MT Newswires) -- US equity indexes were mixed intraday Thursday as markets braced for proposed tariffs on Mexico and Canada taking effect next week.

The Nasdaq Composite fell 0.5% to 18,985.4. The S&P 500 edged up 0.1% to 5,961.3, while the Dow Jones Industrial Average rose 0.7% to 43,743.4. Energy and financial services led sector gainers, while utilities and technology drove the decliners.

President Donald Trump said Thursday that his administration would go ahead with enforcing 25% tariffs on Mexico and Canada on March 4. China will be charged an additional 10% tariff on the same date, Trump said in a Truth Social post.

"A stagnating economy coupled with rising prices is an economic quagmire that policymakers dread," Nigel Green, chief executive of deVere Group, a financial advisory and asset management firm, said in a note. "It limits options, fuels uncertainty, and shakes investor confidence."

In economic news, weekly applications for unemployment insurance in the US rose more than market estimates, reaching its joint-highest level since December, government data showed Thursday.

"We had expected a higher number this week due to the (Department of Government Efficiency) layoffs, but it is difficult to confirm if this was the driving factor," Jefferies Chief US Economist Thomas Simons said in an emailed client note.

US pending home sales fell by 4.6% in January to a 70.6 index reading, an all-time low, according to the National Association of Realtors. The forward-looking indicator of home sales based on contract signings fell more sharply than the 0.9% drop projected by a Bloomberg poll.

"It's evident that elevated home prices and higher mortgage rates strained affordability," said NAR Chief Economist Lawrence Yun.

The US economic growth rate in the fourth quarter held steady with an initial forecast, while inflation sped up, according to a second estimate released Thursday by the Bureau of Economic Analysis.

US Treasury yields rose intraday, with the two-year rate up 2.4 basis points to 4.1% and the 10-year up 4.9 basis points at 4.3%.

In company news, shares of Nvidia (NVDA) fell 3.2% in afternoon trade, the worst performer on the Dow, despite reporting stronger-than-expected fourth-quarter results late Wednesday.

A modest beat and nothing major in terms of guidance meant the report failed to impress the chip giant's investors, according to a note from Deutsche Bank. "It was the smallest revenue beat in two years, so that was underwhelming for investors used to much bigger upside surprises," the brokerage wrote.

Salesforce (CRM) was the second-worst Dow performer with its shares down 1.3% after reporting fourth-quarter results late Wednesday. Its revenue rose less than the market expected while earnings per share topped views.

Retailer Bath & Body Works (BBWI) on Thursday reported a year-year-year drop in fiscal fourth-quarter sales and set expectations for a likely earnings decline this year. Its shares plunged 11% in afternoon trade.

Warner Bros. Discovery's (WBD) stock soared nearly 11%, leading the S&P 500 gainers, despite its fourth-quarter loss widening unexpectedly as sales declined more than projected. The media and entertainment giant saw gains in subscribers on annual and sequential bases and projected continuous growth for the metric.

West Texas Intermediate crude oil futures gained 2.6% to $70.41 a barrel.

Gold futures dropped 1.1% to $2,897.1 per troy ounce, while silver was down 1.4% to $32.10 per troy ounce.