12:42 PM EDT, 06/27/2024 (MT Newswires) -- US equity indexes rose in choppy trade after a surprise increase in durable goods orders coincided with an upward revision in the final estimate for Q1 economic growth.

The Nasdaq rose 0.2% to 17,833.2 after midday Thursday, and the S&P 500 climbed less than 0.1% to 5,479.3, erasing declines from earlier in the session. The Dow Jones Industrial Average advanced 0.3% to 39,235.5.

Real estate was the top gainer intraday, while consumer staples and technology led the decliners. Nvidia ( NVDA ) and Qualcomm ( QCOM ) were down the most among mega-caps in the technology sector.

In economic news, new orders for US durable goods rose 0.1% in May, following a 0.2% gain the previous month, versus expectations for a 0.5% decrease in a survey compiled by Bloomberg.

US gross domestic product was revised higher to a 1.4% increase in Q1 from a 1.3% gain in the previous estimate, in line with a 1.4% increase expected in a survey compiled by Bloomberg. GDP rose by 3.4% in Q4.

The US 10-year yield retreated three basis points to 4.29%, and the two-year rate slid 3.5 basis points to 4.71%.

In its fiscal Q3 results released late Wednesday, Micron Technology ( MU ) forecast sales of $7.60 billion, plus or minus $200 million, for Q4. Analysts polled by Capital IQ expect $7.58 billion. Shares of the chipmaker slumped 6.8% intraday, the steepest among a group of large technology companies with a market capitalization of between $10 billion and $200 billion.

"Micron tumbled after an unimpressive current-quarter forecast and dragged down chip stocks, while caution ahead of economic data and a presidential debate also dented sentiment," a research note from D.A. Davidson said.

West Texas Intermediate crude oil rose 0.6% to $81.39 a barrel.