12:37 PM EDT, 05/08/2024 (MT Newswires) -- US benchmark stock indexes traded mixed while most government bond yields rose in midday trading on Wednesday.

The S&P 500 fell less than 0.1% to 5,184.1, and the Nasdaq Composite slid 0.2% to 16,298.1. The Dow Jones Industrial Average bucked the intraday trend, up 0.2% to 38,971.5.

Real estate paced the declines while the utility sector topped the gainers intraday.

The US 10-year Treasury yield climbed 2.5basis points to 4.49%, after remaining under pressure since the beginning of this week.

In economic news, wholesale inventories fell 0.4% in March, unrevised from the advance reading, as expected in a survey compiled by Bloomberg and following a 0.2% gain in February.

In company news, Uber Technologies ( UBER ) slumped nearly 9% intraday after reporting a Q1 net loss of $0.32 per diluted share, widening from a $0.08 per share loss a year earlier. Shares were the worst performers in the S&P 500.

Intel ( INTC ) shares dropped 2.8% intraday, among the worst in the Nasdaq and the Dow. The chipmaker updated its Q2 outlook after the US Commerce Department notified the company that it is revoking with immediate effect licenses for exports of consumer-related items to a customer in China. Intel ( INTC ) now expects Q2 revenue to remain in the company's original range of $12.5 billion to $13.5 billion but below the midpoint.

West Texas Intermediate crude oil rose 0.5% to $78.79 a barrel.