12:49 PM EDT, 10/17/2024 (MT Newswires) -- US equity indexes rose Thursday after a stronger-than-expected retail sales pushed government bond yields higher, and Taiwan Semiconductor Manufacturing's ( TSM ) quarterly results boosted chip stocks.

The Nasdaq Composite rose 0.8% to 18,506.1, with the S&P 500 up 0.4% to 5,868.2 and the Dow Jones Industrial Average 0.3% higher at 43,218.4 after midday Thursday. Technology was the top gainer intraday. Consumer staples, real estate and health care were among the decliners.

US retail sales rose by 0.4% in September, versus the 0.3% increase expected in a survey compiled by Bloomberg and the previous month's 0.1% gain.

The seasonally adjusted number of initial jobless claims fell by 19,000 to 241,000 in the week ended Oct. 12, the Department of Labor said Thursday. The consensus was for a 258,000 level in a survey of analysts compiled by Bloomberg. The previous week's reading was revised upwards by 2,000 to 260,000.

Almost all US Treasury yields rose intraday, with the 10-year yield up 7.7 basis points to 4.09% and the two-year rate 4.3 basis points up at 3.98%.

US-based chip stocks rose intraday to the top five spots on the Nasdaq after Taiwan Semiconductor reported higher-than-expected Q3 results and Q4 revenue outlook. Taiwan Semiconductor was up over 11% in recent trading.

Elevance Health ( ELV ) reported an unexpected drop in Q3 adjusted earnings Thursday. Its shares sank 12% intraday, the worst performer on the S&P 500.

West Texas Intermediate crude oil slipped 0.1% to $70.29 a barrel.