12:54 PM EDT, 05/16/2024 (MT Newswires) -- US equity indexes rose, with the Dow Jones Industrial Average touching the 40,000 mark for the first time around midday Thursday as a string of macroeconomic data signaled weakness in the economy.

The Dow Jones Industrial Average was at 39,988.1, but still up 0.2% since market open. The S&P 500 traded up 0.2% to 5,316.2, after reaching a new record of 5,325.49 earlier in the session. The Nasdaq Composite was 0.1% higher at 16,757.4, after reaching a new peak of 16,797.83 intraday.

The consumer staples sector was the standout gainer intraday, while materials and industrials were the steepest decliners.

In economic news, US initial jobless claims fell sequentially to 222,000 in the week ended May 11 from an upwardly revised 232,000, compared with expectations for 220,000 in a survey compiled by Bloomberg.

US industrial production held steady in April, below expectations for a 0.1% increase in a survey compiled by Bloomberg, and following a downwardly revised 0.1% increase in March.

US import prices rose 0.9% in April, above the 0.3% increase expected in a survey compiled by Bloomberg and following a 0.6% gain in March. Export prices increased 0.5%, above expectations for a 0.2% gain and following a 0.1% increase in March.

The US 10-year Treasury yield rose 1.7 basis points to 4.37%, and the two-year rate jumped 5.1 basis points to 4.79%.

In company news, Walmart ( WMT ) jumped 6% intraday, the top performer on the S&P 500 and Dow, after it reported higher fiscal Q1 adjusted earnings and revenue. The company also said it now expects to meet the high-end or "slightly" exceed its initial outlook for the full fiscal year.

Biogen (BIIB) and Ionis Pharmaceuticals (IONS) said they would cease development of BIIB105 after a phase 1/2 study showed the investigational ALS drug did not slow disease progression. Biogen shares dropped 2% intraday, the second-worst performer on the Nasdaq. Ionis shares decreased 5%.

West Texas Intermediate crude oil rose 0.7% to $79.21 a barrel.