12:44 PM EST, 02/27/2025 (MT Newswires) -- US equity indexes traded mixed Thursday as investors weighed economic data amid Nvidia's ( NVDA ) "smallest" revenue beat in two years and President Donald Trump's plan to press ahead with import tariffs on three of the country's biggest trading partners.

The Nasdaq Composite fell 0.7% to 18,934, with the S&P 500 down 0.1% to 5,948. The Dow Jones Industrial Average rose 0.6% to 43,694. Utilities and technology were the steepest decliners, while financial services and energy were among the top gainers intraday.

Nvidia ( NVDA ) reported higher fiscal Q4 results overnight that also topped analyst estimates. Shares, nevertheless, dropped 3.9% intraday, the worst performer on the Dow.

Though Nvidia ( NVDA ) surpassed estimates, a modest beat and nothing major in terms of guidance meant the report failed to live up to the hype accompanying the chip giant's earnings over the past two years, according to a note from Deutsche Bank. "Indeed, it was the smallest revenue beat in two years, so that was underwhelming for investors used to much bigger upside surprises." Looking forward, sales guidance for the current quarter was "a little above the average estimate."

In economic news, US initial jobless claims rose to 242,000 in the week that ended Feb. 22 from an upwardly revised 220,000, beating forecasts for 221,000 in a survey compiled by Bloomberg. The four-week moving average increased by 8,500 to 224,000, the US Labor Department said Thursday.

Most US Treasury yields rose intraday, with the two-year up 2.4 basis points to 4.1% and the 10-year yield 4.1 basis points higher at 4.29%.

Trump said his administration would go ahead with import duties on Mexico and Canada next week. China would likewise get a 10% additional tariff the same day, he said in a message on Truth Social. Mexico and Canada face 25% tariffs from March 4, with China looking at 10% on energy.

A stagnating economy coupled with rising prices is an economic quagmire that policymakers dread, Nigel Green, chief executive of deVere Group, an independent financial advisory and asset management firm, said in a note. "It limits options, fuels uncertainty, and shakes investor confidence."

US pending home sales fell by 4.6% in January, below the 0.9% drop expected in a survey compiled by Bloomberg and following a 4.1% decrease in December, according to the National Association of Realtors. The monthly sales index was down 5.2% from January 2024.