03:53 PM EDT, 05/29/2024 (MT Newswires) -- US benchmark equity indexes were lower ahead of Wednesday's close, as markets awaited a second official reading on first-quarter economic growth due Thursday.

The Dow Jones Industrial Average was down 0.9% at 38,513.8, while the S&P 500 fell 0.6% to 5,275.2. The Nasdaq Composite declined 0.4% to 16,945.7 after closing above the 17,000 level for the first time in the previous session. All sectors were in the red, led by energy and materials.

Government data are likely to show Thursday that the US economy grew at an annual rate of 1.3% in the March quarter, compared with a previously reported 1.6% gain, according to a Bloomberg-compiled consensus.

The US 10-year yield rose 7.4 basis points to 4.62%, while the two-year rate was little changed at 4.98%.

Salesforce ( CRM ) , Agilent Technologies ( A ) and HP (HPQ) are among the companies scheduled to report their latest financial results after the closing bell.

West Texas Intermediate crude oil fell 0.9% to $79.11 per barrel.