01:11 PM EDT, 07/21/2025 (MT Newswires) -- US equity indexes advanced in a broad-based rally, with two of the three mainstream indexes hitting new highs amid declines in government bond yields, the dollar, and crude oil in midday trading on Monday.

The Nasdaq Composite was up 0.6% to 21,033.1 after touching a new all-time high of 21,077.37 earlier in the session. The S&P 500 climbed 0.6% to 6,331.4, earlier hitting a new intraday record high of 6,336.08. The Dow Jones Industrial Average rose 0.5% to 44,572.9, trading close to its peak of 45,073.63.

All sectors except energy and healthcare moved higher intraday, with materials and communication services among the top gainers.

In earnings news, Verizon Communications ( VZ ) lifted the lower end of its full-year earnings growth outlook, as the telecommunications giant reported better-than-expected Q2 results. Shares jumped 5.3% intraday, the top performer on the S&P 500 and the Dow.

Based on 11% of companies having reported results so far, S&P 500 earnings have risen 6.1% year-over-year, ahead of the FactSet consensus as of June 30 for 4.8% growth, according to a D A Davidson note. Q2 sales are up 6.6%, above the June 30 consensus of 4.2%. FactSet's Q2 earnings estimate, which combines reported results with the remaining consensus, currently implies a 5.4% advance.

Over the weekend, US Commerce Secretary Howard Lutnick said he anticipated an agreement on trade tariffs with the European Union before the hard Aug. 1 deadline, according to a note from FXStreet.

Meanwhile, in economic news Monday, the Conference Board's measure of leading indicators fell by 0.3% in June, as expected in a survey compiled by Bloomberg and following a steady reading in May.

"The Conference Board does not forecast a recession, although economic growth is expected to slow substantially in 2025 compared to 2024," said Justyna Zabinska-LaMonica, senior manager, Business Cycle Indicators, at the Conference Board. "Real GDP is projected to grow by 1.6% this year, with the impact of tariffs becoming more apparent in H2 as consumer spending slows due to higher prices."

Most US Treasury yields declined, with the 10-year yield down 7.5 basis points to 4.36% and the two-year 2.9 basis points lower at 3.85%.

West Texas Intermediate crude oil futures declined 0.6% to $66.94 a barrel.

The ICE US Dollar Index fell 0.7% to 97.77, while gold futures jumped 1.6% to $3,411.01 per ounce.

Further in company news, Biogen (BIIB) said it plans to invest an additional $2 billion in its manufacturing facilities at North Carolina's Research Triangle Park, building on nearly $10 billion that the company has already invested. Its shares retreated 2.6% intraday, the biggest decliner on the Nasdaq.