12:23 PM EDT, 08/26/2024 (MT Newswires) -- US equity indexes traded mixed as most government bond yields rose in choppy midday trading after orders for new durable goods jumped almost twice as fast as the market had anticipated.

The S&P 500 fell 0.4% to 5,610.1, with the Nasdaq Composite down 1% to 17,693.2. The Dow Jones Industrial Average rose less than 0.1% to 41,198.6. Technology and consumer discretionary were among the worst performers intraday while consumer staples and utilities led the gainers.

In economic news, new orders for durable goods surged 9.9% in July following a 6.9% drop in June, ahead of estimates compiled by Bloomberg for a 5% increase.

The Dallas Fed's monthly manufacturing index improved to minus 9.7 in August from minus 17.5 in July, compared with expectations for an improvement to minus 16 in a survey compiled by Bloomberg.

The CBOE Volatility Index (VIX), known as the fear gauge, traded 4.7% higher at 16.61.

Treasury yields rose in choppy intraday trading, with the 10-year up less than one basis point to 3.81%, after trading lower earlier in the session. Similarly, the two-year yield at 3.93% reflected a gain of one basis point.

West Texas Intermediate crude oil surged 3.2% to $77.19 a barrel.

In company news, PDD Holdings' ( PDD ) Q2 revenue increased year over year but fell short of market estimates, while the Chinese e-commerce platform expects competition and external challenges to impact its future results. Shares plummeted 30%, the worst performer on the Nasdaq.