03:50 PM EDT, 08/07/2024 (MT Newswires) -- US benchmark equity indexes were lower ahead of Wednesday's close as markets analyzed the latest set of corporate earnings.

The Nasdaq Composite was down 0.5% at 16,290.3, while the Dow Jones Industrial Average and the S&P 500 fell 0.2% each to 38,906.7 and 5,227.6, respectively. Among sectors, consumer discretionary saw the steepest decline, while energy led the gainers.

Super Micro Computer ( SMCI ) and Airbnb ( ABNB ) shares fell sharply following their latest quarterly financial results, while Fortinet ( FTNT ) and Axon Enterprise ( AXON ) posted sizable gains.

McKesson (MCK), Monster Beverage ( MNST ) and Warner Bros. Discovery ( WBD ) are among the companies scheduled to report results after the closing bell.

The US 10-year yield rose 7.4 basis points to 3.96%, while the two-year rate added 1.8 basis points to 4%.

West Texas Intermediate crude oil jumped 2.9% to $75.30 a barrel.