02:23 PM EDT, 10/16/2024 (MT Newswires) -- US benchmark equity indexes were higher intraday as traders analyzed the latest set of corporate earnings.

The Dow Jones Industrial Average was up 0.6% at 42,977.8 after midday Wednesday, while the S&P 500 rose 0.3% to 5,830.6. The Nasdaq Composite edged 0.1% higher to 18,330.2. Among sectors, utilities paced the gainers, while communication services saw the steepest decline.

In company news, United Airlines (UAL) shares were up 12%, the top gainer on the S&P 500. Late Tuesday, the carrier logged third-quarter results that surpassed Wall Street's estimates as demand for air travel remained strong.

Morgan Stanley ( MS ) was the second-best performer on the S&P 500, up 6.6%. The lender posted stronger-than-expected third-quarter results Wednesday amid higher asset levels and investment banking gains that reflected increased deal activity and initial public offerings.

ASML ( ASML ) shares were down 6.3% intraday, the worst performer on the Nasdaq, following a 16% slump in the previous session. On Tuesday, the Dutch chip equipment maker lowered the upper end of its fiscal 2025 sales outlook range.

"While we continue to view (artificial intelligence) as a key driver of the industry recovery with potential upside, we see other segments recovering more slowly than anticipated," Chief Executive Christophe Fouquet said on an earnings conference call Wednesday, according to a Capital IQ transcript. The company sees the recovery extending "well into" next year, Fouquet added.

CSX (CSX), Kinder Morgan ( KMI ) , Crown Castle ( CCI ) and PPG Industries ( PPG ) are among the companies scheduled to report results after Wednesday's closing bell.

The US 10-year yield fell two basis points to 4.02% intraday, while the two-year rate lost 1.8 basis points to 3.94%.

In economic news, mortgage applications in the US continued their downward trend for the third straight week as rates across all loan types increased, the Mortgage Bankers Association said.

West Texas Intermediate crude oil was down 0.1% at $70.5 a barrel intraday.

Oil prices steadied, backed by cuts from the Organization of the Petroleum Exporting Countries and its allies, as well as uncertainty over the geopolitical situation in the Middle East, D.A. Davidson said in a note to clients. "An outlook for ample supply next year added downward pressure" on prices, the firm said.

Gold was up 0.5% at $2,691.70 per troy ounce, while silver gained 0.7% to $31.97 per ounce.