01:43 PM EST, 01/16/2025 (MT Newswires) -- US benchmark equity indexes were mostly unchanged intraday as markets weighed the latest batch of economic data and corporate earnings.

The Dow Jones Industrial Average and the S&P 500 were little changed at 43,209.9 and 5,949.4, respectively, after midday Thursday. The Nasdaq Composite fell 0.2% to 19,465.2. Among sectors, utilities led the gainers, while consumer discretionary saw the biggest drop.

In economic news, US retail sales rose at a slower-than-projected pace last month, weighed down by a decline in the volatile building materials stores component, Census Bureau data showed.

"It has been a very strong performance from the consumer and retail sales since the (Federal Reserve) started cutting interest rates in September," BMO said. "Strong fourth-quarter retail sales growth is another data point the Fed will use to justify holding the Fed funds target rate steady on January 29th as it awaits more clarity on tariffs and the future path of inflation."

On Wednesday, official data showed that US consumer inflation accelerated in December both sequentially and annually, while core measures came below Wall Street's estimates.

Weekly applications for unemployment insurance in the US increased more than projected, while continuing claims dropped, the Department of Labor reported Thursday.

The US 10-year yield dropped 4.5 basis points to 4.61% intraday, while the two-year rate fell 3.4 basis points to 4.23%.

In company news, Morgan Stanley ( MS ) logged higher-than-expected fourth-quarter results, buoyed by its investment banking business, which reflected increased deal activity and initial public offerings. The lender's shares jumped 2.8%.

Lam Research ( LRCX ) and KLA (KLAC) were the best performers on the S&P 500 and the Nasdaq, up more than 7% each.

UnitedHealth Group ( UNH ) shares slumped 5.1%, the worst performer on the S&P 500 and the Dow. The health insurer's fourth-quarter results increased on an annual basis, but revenue fell short of market expectations.

Bank of America ( BAC ) posted stronger-than-expected growth in fourth-quarter results as investment banking fees jumped and loans picked up. The lender said that net interest income will accelerate in the second half of 2025 from the first half. Its shares were down 1.8% intraday.

West Texas Intermediate crude oil dropped 1.2% to $79.60 a barrel.

Gold was up 1.4% at $2,754.50 per troy ounce, while silver added 0.7% to $31.77 per ounce.