02:49 PM EDT, 05/24/2024 (MT Newswires) -- US benchmark equity indexes were higher intraday as investors evaluated the latest economic data, including a report showing a surprise gain in durable goods orders for April.

The Nasdaq Composite was up 1.2% at 16,937.7 after midday Friday, while the S&P 500 rose 0.8% to 5,308.4. The Dow Jones Industrial Average advanced 0.2% to 39,135.8. Among sectors, communication services and consumer discretionary led the gainers. Health care was the sole decliner.

In economic news, orders for tangible items with an average life of at least three years increased 0.7% sequentially last month to about $284.07 billion, following a downwardly revised 0.8% gain in March, the Census Bureau said. The consensus estimate was for a 0.8% decrease, according to a survey compiled by Bloomberg.

"Firmer durable goods orders and shipments suggest US business investment remains sturdy," BMO Capital Markets said in a note. "It was the third straight monthly advance, led by most major components, including general machinery and computing gear."

US consumer sentiment decreased on a monthly basis in May, but fell less than the market predicted, while year-ahead inflation expectations ticked up, according to the University of Michigan's Surveys of Consumers.

The 10.5% decrease in the headline sentiment gauge brings the index to its lowest reading in about five months, Surveys of Consumers Director Joanne Hsu said.

The US 10-yield fell 1.4 basis points to 4.46% intraday, while the two-year rate rose 1.5 basis points to 4.95%.

In company news, Intuit (INTU) shares declined 8%, the steepest decline on the S&P 500 and the second-worst on the Nasdaq. The financial technology platform late Thursday posted stronger-than-expected fiscal third-quarter results and raised its full-year guidance. The company said at the time it expected the number of customers "paying nothing" for filing returns to be more than 10 million for the full year, down from more than 11 million last year.

Intuit's unit share losses in consumer tax and a sequential deceleration in online services growth could "stoke concerns" about sales-growth durability, Morgan Stanley said Friday.

Workday (WDAY) was the worst performer on the Nasdaq intraday Friday, down 15%. The cloud human resources company late Thursday lowered its full-year subscription sales outlook amid slowing headcount growth, despite recording better-than-expected fiscal first-quarter results.

Deckers Outdoor ( DECK ) shares jumped almost 14% intraday, the top gainer on the S&P 500. The company late Thursday posted fiscal fourth-quarter results that topped Wall Street's expectations.

Ross Stores ( ROST ) was the best performer on the Nasdaq and among the best on the S&P 500, up 8.5%. The company's fiscal first-quarter results exceeded the Street's views late Thursday.

West Texas Intermediate crude oil rose 1.3% to $77.87 per barrel intraday Friday.

Gold was little changed at $2,336.20 per troy ounce, while silver rose 0.2% to $30.52 per ounce.