03:54 PM EDT, 10/30/2024 (MT Newswires) -- US benchmark equity indexes were lower ahead of Wednesday's close as traders parsed the latest corporate earnings and economic data while awaiting Microsoft (MSFT) and Meta Platforms' (META) results.

The Nasdaq Composite was down 0.3% at 18,662.4, while the S&P 500 fell 0.2% to 5,822.5. The Dow Jones Industrial Average lost 0.1% to 42,180.6. Among sectors, technology saw the steepest decline, while communication services paced the gainers.

Tech giants Microsoft and Facebook parent Meta are scheduled to report their latest quarterly financial results after the closing bell, along with other major names like Amgen ( AMGN ) , Starbucks ( SBUX ) , DoorDash ( DASH ) , Carvana ( CVNA ) and eBay ( EBAY ) .

Share of Qorvo ( QRVO ) plunged following its earnings report, while Garmin ( GRMN ) and Alphabet (GOOG) saw gains.

The US two-year yield rose 4.9 basis points to 4.17%, while the 10-year rate was little changed at 4.28%.

The US economy grew at a slower-than-projected pace in Q3, while inflation cooled, according to an advance estimate by the Bureau of Economic Analysis.

Employment growth in the US private sector rose more than expected in October, while wage growth cooled, Automatic Data Processing ( ADP ) reported.

West Texas Intermediate crude oil rose 2.5% to $68.89 a barrel.