12:27 PM EDT, 07/23/2024 (MT Newswires) -- US equity indexes advanced, with consumer discretionary and technology among the top gainers, in midday trading Tuesday.

The Nasdaq Composite rose 0.5% to 18,104.8, with the S&P 500 up 0.3% to 5,581.5 and the Dow Jones Industrial Average 0.2% higher at 40,498.5. All sectors, except energy, utilities and consumer staples, were rising.

Treasury yields fell, with the two-year down three basis points to 4.49% and the 10-year 3.3 basis points lower at 4.23%.

Alphabet (GOOG) and Tesla (TSLA) will release quarterly results after the bell.

In company news, technology giant SAP (SAP) jumped more than 6% intraday, a day after the company reported higher Q2 earnings and revenue.

However, NXP Semiconductors ( NXPI ) sank 9% intraday, a laggard on the Nasdaq, after the company overnight reported declines in Q2 earnings and revenue.

United Parcel Service ( UPS ) fell short of Q2 estimates and tempered full-year revenue guidance as the package delivery company expects US customers to continue trading down between its services. Shares slumped more than 13% intraday, the worst performer on the S&P 500.

Coca-Cola (KO) raised its full-year outlook as the beverage giant reported stronger-than-expected fiscal Q2 earnings, buoyed by volume and pricing gains.

In economic news, the Richmond Federal Reserve's monthly manufacturing index fell to minus 17 in July from minus 10 in June, compared with expectations for an improvement to minus 6 in a Bloomberg survey. The index indicates a faster pace of contraction in the sector, which is in line with the reading from the Empire State, but in contrast with the Philadelphia Fed index that suggested expansion.

West Texas Intermediate crude oil slumped 1.9% to $76.88 a barrel.