02:22 PM EDT, 08/16/2024 (MT Newswires) -- US benchmark equity indexes were higher intraday as markets assessed the latest macro data, including a survey showing that consumer sentiment grew more than projected in August.

The Nasdaq Composite was up 0.4% at 17,660.5 after midday Friday, while the Dow Jones Industrial Average and the S&P 500 rose 0.3% each to 40,674.7 and 5,558.2, respectively. Among sectors, financials and communication services paced the gainers, while real estate saw the biggest drop.

In economic news, US consumer sentiment increased to 67.8 this month from 66.4 in July, preliminary results from the University of Michigan's Surveys of Consumers showed. The consensus was for a 66.9 reading in a survey compiled by Bloomberg.

Consumers' overall expectations strengthened for both personal finances and the five-year economic outlook, which hit its highest level in four months, Surveys of Consumers Director Joanne Hsu said. The survey showed consumers' inflation expectations held steady at the one- and five-year horizons.

US housing starts decreased last month, weighed down by sequential declines in single-family projects, the Census Bureau and the Department of Housing and Urban Development said.

"While there's no denying the July starts and permits data were much worse than anticipated, the recent sharp drop in mortgage rates, if sustained, should enable the residential market to gain some traction going forward," BMO said in a note to clients.

The US two-year yield fell 4.1 basis points to 4.06% intraday, while the 10-year rate lost 3.8 basis points to 3.89%.

West Texas Intermediate crude oil was down 1.9% at $76.68 a barrel. Chinese refineries sharply reduced crude processing rates in July amid tepid demand, Reuters reported.

In company news, Tapestry (TPR) shares were up 3.2%, among the top gainers on the S&P 500. The luxury fashion company logged better-than-expected fiscal fourth-quarter results Thursday and said it expected 2025 earnings to be higher than the prior full year.

Madison Square Garden Entertainment ( MSGE ) shares rose 5.5% intraday Friday after the company swung to a fiscal fourth-quarter profit year over year as higher event-related revenue and food and beverage sales helped drive a double-digit topline gain.

Palo Alto Networks ( PANW ) saw the steepest decline on the Nasdaq and was the second-worst performer on the S&P 500, down 2.8%. The cybersecurity firm's fiscal 2025 outlook will be a key focus when its reports fourth-quarter results Monday as it executes its "platformization" strategy, Wedbush Securities said in a Friday note to clients. Only 900 of Palo Alto's top 5,000 customers have fully transitioned to the company's platform approach, but it is expected to gain pace, the brokerage said.

Applied Materials ( AMAT ) shares fell 1.8%, among the steepest declines on the Nasdaq. The semiconductor equipment maker late Thursday posted stronger-than-expected results for the fiscal third quarter amid tailwinds from rising artificial intelligence adoption.

Gold was up 1.7% at $2,535.40 per troy ounce, while silver gained 1.5% to $28.84 per ounce.