12:12 PM EDT, 04/17/2024 (MT Newswires) -- US equity indexes slipped as the earnings onslaught continued and government bond yields fell with crude oil after midday on Wednesday.

The S&P 500 declined 0.4% to 5,032.7, with the Nasdaq Composite down 0.6% to 15,767.7 and the Dow Jones Industrial Average 0.2% lower at 37,717.1. Industrials, technology, and consumer discretionary led the decliners intraday, while the utilities sector was among the top gainers.

In company news, United Airlines (UAL) late Tuesday reported a smaller-than-expected Q1 loss despite a $200 million hit from the temporary grounding of the Boeing (BA) 737 Max 9, while the airline updated its long-term fleet strategy to smooth out its aircraft delivery schedule. Shares of the airline climbed 14% intraday, the top performer on the S&P 500.

The worst performer on the index was J.B. Hunt Transport Services (JBHT), down nearly 8% intraday, after Q1 results late Tuesday trailed expectations, and as Morgan Stanley said Wednesday that competition within intermodal and trucking will hamper the company's capacity utilization in the near term.

Shares of Travelers (TRV) tumbled 8.3% intraday, among the worst performers on the S&P 500 and the Dow, after the property and casualty insurer reported weaker-than-expected results for Q1 amid higher catastrophe losses.

ASML Holding ( ASML ) slumped 7.5% intraday, the laggard on the Nasdaq, after the company reported lower fiscal Q1 earnings and net sales.

In economic news, mortgage applications rose for the second consecutive week, driven by purchasing activity, even though rates increased across all loan types, the Mortgage Bankers Association said Wednesday. The market composite index gained 3.3% for the week ended April 12 on a seasonally adjusted basis. That's after a 0.1% increase the week before.

The US 10-year yield fell 4.9 basis points to 4.61%. A 2.8 basis-point decline in the two-year Treasury pushed the yield to 4.94%.

West Texas Intermediate crude oil fell 1.6% to $84.02 a barrel.