02:12 PM EDT, 09/18/2025 (MT Newswires) -- US benchmark equity indexes were higher intraday amid a surge in the technology sector, aided by Intel ( INTC ) and Nvidia ( NVDA ) shares.

The tech-heavy Nasdaq Composite was up 1.1% at 22,497.2 after midday Thursday, while the S&P 500 rose 0.6% to 6,638.4. The Dow Jones Industrial Average advanced 0.4% to 46,209.6. Among sectors, tech led the gainers with a 1.4% jump, while consumer staples saw the biggest drop.

In company news, Intel ( INTC ) shares surged nearly 24%, the top gainer on the S&P 500, while Nvidia ( NVDA ) led the Dow with a 3.5% jump. The chipmaking giant agreed to invest $5 billion in Intel ( INTC ) and jointly develop new data center and personal computer chips.

The deal comes about a month after Intel ( INTC ) said that the Trump administration would invest $8.9 billion in the company.

"This is a game changer deal for Intel ( INTC ) as it now brings them front and center into the (artificial intelligence) game," Wedbush Securities said in a Thursday note.

Darden Restaurants ( DRI ) reported fiscal first-quarter earnings below market expectations, though the restaurant operator lifted its full-year sales growth outlook. The Olive Garden ( DRI ) parent's shares were down 8.2%, the worst performer on the S&P 500.

FactSet Research Systems ( FDS ) followed Darden on the index, down 8.1%. The financial data provider issued a downbeat annual adjusted earnings outlook following a fiscal fourth-quarter bottom-line miss.

US Treasury yields were higher intraday, with the 10-year rate rising 2.5 basis points to 4.10% and the two-year rate adding 2.1 basis points to 3.57%.

On Wednesday, the Federal Reserve reduced its benchmark lending rate by 25 basis points, noting increased downside risks to employment and signaling further policy easing later in 2025. At his post-meeting press conference, Fed Chair Jerome Powell characterized the latest policy move as a "risk management cut."

"While the Fed has yet to achieve price stability, the committee's focus appears to be shifting from prices to employment, with the majority of officials anticipating two more rate cuts this year and one next," Stifel said in a Thursday note.

Newly appointed Fed Governor Stephen Miran preferred a 50-basis-point reduction at the Wednesday meeting, and was the sole dissenter.

National Economic Council Director Kevin Hassett said that the Fed's decision to go with a quarter-percentage-point cut was "pretty broad consensus, and I think that's a good first step in the right direction to much lower rates," CNBC reported Thursday.

West Texas Intermediate crude oil was down 1% at $63.44 a barrel intraday. "Oil prices fell as traders weighed the start of looser monetary policy against concerns about the US economy," D.A. Davidson said in a note.

In economic news, applications for unemployment insurance in the US declined more than expected last week, dropping from a nearly four-year high reached in the week prior, government data showed.

"Sorting through the noise, initial claims are still consistent with a relatively low pace of layoffs," Oxford Economics said.

Gold was down 1.1% at $3,678.50 per troy ounce, while silver lost 0.1% to $42.12 per ounce.