02:20 PM EDT, 08/19/2024 (MT Newswires) -- US benchmark equity indexes were higher after midday Monday as markets awaited this week's key corporate earnings and the annual economic symposium in Jackson Hole, Wyoming.

The Nasdaq Composite was up 0.6% at 17,732.6 intraday, while the S&P 500 rose 0.5% to 5,582.2. The Dow Jones Industrial Average advanced 0.4% to 40,828.8. All sectors were in the green, led by communication services and consumer discretionary.

Palo Alto Networks ( PANW ) is scheduled to post its latest quarterly financial results after Monday's closing bell, while Intuit (INTU), TJX (TJX), Lowe's (LOW), Analog Devices ( ADI ) and Target ( TGT ) will be reporting later in the week.

In company news, Advanced Micro Devices ( AMD ) shares were up 2.8%, among the top gainers on the Nasdaq, after the chipmaker agreed to acquire artificial intelligence infrastructure solutions company ZT Systems for roughly $4.9 billion.

Drugmaker Moderna (MRNA) was among the best performers on the S&P 500 and the Nasdaq, up 3.5%.

McDonald's (MCD) shares were up 3.2%, the top gainer on the Dow, as Evercore ISI adjusted its price target on the fast-food heavyweight's stock to $320 from $300 while maintaining its outperform rating.

HP (HPQ) likely faces limited earnings and valuation upside, with catalysts "largely priced in" and second-half personal computer demand trending a bit weaker than previously forecast, Morgan Stanley said in a Monday note to clients. The PC maker's shares were down 3.4%, the steepest decline on the S&P 500.

The US 10-year yield fell 2.7 basis points to 3.87% intraday, while the two-year rate lost one basis point to 4.06%.

The two-day Jackson Hole symposium is scheduled to kick off Thursday, with Federal Reserve Chair Jerome Powell due to speak Friday.

Powell's remarks will be a key focus for markets this week amid expectations that policymakers could lower their benchmark lending rate by up to 50 basis points next month, Oppenheimer Asset Management said in a Monday note to clients.

"With many folks now looking for a cut of as much as 50 (basis points) in September, a degree of hesitancy in the chair's remarks could reintroduce some volatility into the market ahead of next weekend," the brokerage wrote. A 25-basis-point interest-rate cut next month would be more likely as last week's initial jobless claims and continuing claims data, along with the advance retail sales report, indicated economic resilience, according to the note.

West Texas Intermediate crude oil was down 2.7% at $74.56 a barrel intraday. Prices dropped as concerns about Chinese demand weighed on market sentiment, D.A. Davidson said in a note to clients.

Gold was up 0.1% at $2,540.20 per troy ounce, while silver gained 1.6% to $29.30 per ounce.