01:50 PM EST, 11/22/2024 (MT Newswires) -- US benchmark equity indexes were higher intraday as markets assessed the latest economic data, including a report showing that private-sector output hit the highest level since April 2022.

The Dow Jones Industrial Average was up 0.8% at 44,211.3 after midday Friday, while the S&P 500 rose 0.3% to 5,968.7. The Nasdaq Composite added 0.2% to 19,003.5. Among sectors, industrials and consumer discretionary led the gainers, while communication services saw the biggest drop.

In economic news, US private-sector output rose to 55.3 in November from 54.1 in October, despite continued contraction in manufacturing, according to S&P Global's ( SPGI ) flash purchasing managers' index. The year-ahead outlook hit a 2.5-year high.

"The survey's price gauge covering goods and services signaled only a marginal increase in prices in November, pointing to consumer inflation running well below the (Federal Reserve's) 2% target," S&P Global Market Intelligence Chief Business Economist Chris Williamson said.

US consumer sentiment increased in November, while year-ahead inflation expectations dropped to the lowest since December 2020, final results from the University of Michigan's Surveys of Consumers showed.

The US two-year yield rose 1.8 basis points to 4.37% intraday, while the 10-year rate dropped 2.4 basis points to 4.41%.

In company news, Copart ( CPRT ) shares jumped 9.8%, the second-best performer on the S&P 500 and the Nasdaq, after the company late Thursday posted fiscal first-quarter results that grew year over year.

Boeing ( BA ) was the top gainer on the Dow intraday Friday, up 4.2%. The plane maker said Thursday it won a contract valued at $2.38 billion to build an additional 15 units of KC-46A Pegasus tankers for the US Air Force.

Palo Alto Networks ( PANW ) shares decreased 5%, the worst performer on the S&P 500, as HSBC downgraded the cybersecurity firm to reduce from hold and adjusted its price target to $291 from $304.

Intuit (INTU) saw the second-steepest decline on the S&P 500 and the Nasdaq, down 4.3%. Late Thursday, the financial technology platform issued a downbeat fiscal second-quarter revenue outlook.

West Texas Intermediate crude oil rose 1.6% to $71.23 a barrel intraday.

Crude futures are headed for a weekly gain amid elevated tensions between Russia and Ukraine, Saxo Bank said in a report. There are also doubts about the Organization of the Petroleum Exporting Countries and its allies unwinding voluntary production cuts next year due to market oversupply.

Gold was up 1.4% at $2,711.50 per troy ounce, while silver gained 1.3% to $31.34 per ounce.