11:59 AM EDT, 05/15/2024 (MT Newswires) -- US equity indexes rose in midday trading on Wednesday, pushing the S&P 500 and the Nasdaq Composite to new highs, and government bond yields slumped after consumer price inflation eased in April.

The S&P 500 traded up 0.7% to 5,283.1, after touching a new record of 5,293.15 earlier in the session. The Nasdaq Composite was 0.8% higher at 16,647.3, after scaling a new peak of 16,676.80 intraday. The Dow Jones Industrial Average climbed 0.5% to 39,759.2.

Technology, real estate, and utilities were the top gainers intraday, while energy and consumer discretionary were among the trio of decliners.

The US seasonally adjusted consumer price index rose 0.3% in April, below expectations for a 0.4% increase in a survey compiled by Bloomberg and following a 0.4% gain in March, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI also rose 0.3%, right on the consensus estimate and following a 0.4% gain in March.

The year-over-year rate for overall and core CPI slowed to 3.4% and 3.6%, respectively, from 3.5% and 3.8% in the previous month.

The US 10-year Treasury yield slumped 8.4 basis points to 4.36%, and the two-year rate dropped seven basis points to 4.75%.

In company news, Biogen (BIIB) and Eisai said late Tuesday that the latter initiated a rolling submission of a biologics license application to the US Food and Drug Administration for a weekly maintenance treatment for early Alzheimer's disease. Shares of Biogen jumped 3.5% intraday, the second-biggest gainer on the Nasdaq.

The US government accused Boeing ( BA ) of failing to abide by the terms of a 2021 deal that protected the company from criminal prosecution over two fatal 737 MAX plane crashes, news outlets reported Tuesday. Shares of the aircraft manufacturer fell 2.3% intraday, the second-worst performer on the Dow.

West Texas Intermediate crude oil rose 0.2% to $78.16 a barrel.