02:24 PM EST, 11/08/2024 (MT Newswires) -- US benchmark equity indexes were higher intraday as a survey showed that consumer sentiment reached a six-month high in November.

The Dow Jones Industrial Average was up 0.6% at 43,983.5 after midday Friday, while the S&P 500 rose 0.4% to 5,999.2. The Nasdaq Composite was up 0.1% at 19,283.9. Among sectors, utilities, real estate, and consumer staples saw the biggest gains. Materials, communication services, and technology were in the red.

In economic news, US consumer sentiment so far this month saw a fourth straight improvement, hitting the highest reading in six months, while year-ahead inflation expectations fell to the lowest level since December 2020, preliminary results from the University of Michigan's Surveys of Consumers showed.

Interviews for the survey were concluded prior to Tuesday's US presidential election, in which Donald Trump defeated Kamala Harris, marking his return to the White House.

On Thursday, the Federal Reserve lowered its benchmark lending rate by 25 basis points, following a 50-basis-point cut in September.

The US two-year yield rose 2.3 basis points to 4.24% intraday Friday, while the 10-year rate dropped 3.9 basis points to 4.30%.

In company news, Axon Enterprise ( AXON ) shares were up nearly 27%, the best performer on the S&P 500. Late Thursday, the company reported better-than-expected third-quarter financial results and raised its full-year revenue outlook.

Fortinet ( FTNT ) was the second-best performer on the Nasdaq and among the best on the S&P 500 intraday, up 9.3%, following a third-quarter beat late Thursday.

Tesla (TSLA) shares jumped 9%, the top gainer on the Nasdaq and among the best on the S&P 500, with the electric vehicle maker's market capitalization topping $1 trillion. Markets are betting that Tesla stands to benefit from Trump's victory in the presidential election.

Airbnb ( ABNB ) saw the biggest decline on the Nasdaq and the second-steepest on the S&P 500, down 7.4%. Late Thursday, the vacation rental company's third-quarter earnings more than halved year-over-year, while revenue narrowly advanced above Wall Street's estimates.

Akamai Technologies ( AKAM ) shares were down 14% intraday, the worst performer on the S&P 500. Late Thursday, the company reported that its third-quarter adjusted earnings fell year over year, while it lowered its full-year outlook.

West Texas Intermediate crude oil dropped 2.9% to $70.29 a barrel intraday. Prices decreased as concerns around extended supply disruptions from Hurricane Rafael in the US Gulf of Mexico eased, Reuters reported.

Gold was down 0.5% at $2,692.30 per troy ounce, while silver lost 1.6% to $31.36 per ounce.