03:48 PM EDT, 06/17/2024 (MT Newswires) -- US equity indexes were up ahead of Monday's close, with technology and consumer discretionary pushing the S&P 500 and the Nasdaq Composite to fresh intraday record highs amid a rebound in government bond yields.

The S&P 500 climbed 1% to 5,486.9 after hitting an intraday record high of 5,488.50 earlier in the session. The Nasdaq Composite traded up 1.3% to 17,925.9, also touching a new all-time high of 17,935.98. The Dow Jones Industrial Average rose 0.6% to 38,800.7.

Technology and consumer discretionary jumped 1.7% each, led higher by mega-caps such as Broadcom ( AVGO ) , Apple ( AAPL ) , and Tesla (TSLA).

The New York Federal Reserve's Empire State manufacturing index improved to minus 6 in June from minus 15.6 in May, compared with the minus 11.3 expected in a survey compiled by Bloomberg. The Empire State index is the first manufacturing sector reading for June, suggesting an easing in the pace of contraction.

The US 10-year yield jumped 6.6 basis points to 4.28%, and the two-year rate surged 8.3 basis points to 4.77% after declining last week as consumer and wholesale price inflation eased more than forecast.

West Texas Intermediate crude oil soared 2.7% to $80.45 a barrel.