01:58 PM EDT, 04/30/2026 (MT Newswires) -- US benchmark equity indexes were higher intraday as investors digested the latest batch of corporate results, while oil prices turned lower.

The Dow Jones Industrial Average was up 1.5% at 49,601.7 after midday Thursday, while the S&P 500 rose 0.7% to 7,187.1. The Nasdaq Composite climbed 0.5% to 24,800.9. Barring technology, all sectors were in the green, led by communication services' 3.5% jump.

In company news, Caterpillar ( CAT ) shares surged 10% intraday, the best performer on the Dow and among the biggest gainers on the S&P 500. The heavy equipment manufacturer raised its full-year sales outlook as its first-quarter results exceeded market expectations.

Eli Lilly ( LLY ) lifted its full-year outlook, while the drugmaker reported first-quarter results above market estimates. The stock was up 10%.

Meta Platforms ( META ) shares plunged 9.2%, among the steepest declines on the S&P 500, as the Facebook parent raised its full-year capital expenditure guidance mainly due to higher component pricing.

Microsoft ( MSFT ) shares were down 5.8%, the worst performer on the Dow, as the tech giant said its capital expenditures will be about $190 billion in 2026, while its fiscal third-quarter results topped market estimates.

iPhone maker Apple ( AAPL ) is scheduled to release its quarterly earnings after the markets close.

Oil prices pulled back after surging in the previous session, with Brent crude down 3.5% at $113.94 per barrel, having topped $126 earlier in the day. West Texas Intermediate fell 2.5% to $104.22.

In economic news, US economic growth fell short of Wall Street's expectations in the first quarter as spending slowed amid inflationary pressures that economists said will likely keep consumers under pressure.

"The core of the economy remained solid in (the first quarter), driven by the (artificial intelligence) buildout and the tax cuts beginning to feed through," Oxford Economics Chief US Economist Michael Pearce said in remarks emailed to MT Newswires. "Those factors will continue to drive growth over the rest of the year, but the jump in energy prices will take some of the shine off what would otherwise have been a strong year for the economy."

US inflation, as measured by the personal consumption expenditure price index, accelerated in March to the fastest pace since mid-2022 as the Middle East conflict sent energy prices soaring.

"Inflationary pressures continued to percolate," Ksenia Bushmeneva, economist at TD Economics, said in a report. "The situation around the energy crisis remains uncertain and gas prices are likely to remain elevated for some time."

On Wednesday, the Fed kept its benchmark lending rate steady, saying the Iran war is fueling uncertainty around the US economic outlook.

US Treasury yields were lower intraday, with the 10-year rate down 3.8 basis points at 4.40% and the two-year rate falling 6.9 basis points to 3.90%.

Gold rose 1.3% at $4,620 per troy ounce, while silver advanced 2% to $73.51 per ounce.