12:09 PM EDT, 07/18/2025 (MT Newswires) -- US equity indexes were mixed in midday trading on Friday after a University of Michigan survey showed inflation remains the dominant concern, even though consumer sentiment improved.

The Nasdaq Composite was up 0.1% at 20,913.2 after touching its all-time high of 20,980.56 earlier in the session. The S&P 500 was up less than 0.1% to 6,301.1, earlier hitting a new intraday record high of 6,315.61. The Dow Jones Industrial Average fell 0.3% to 44,331.5. The utility sector was the standout gainer intraday.

The University of Michigan's preliminary consumer sentiment index rose to 61.8 in July, from 60.7 in June and ahead of Bloomberg's consensus forecast of 61.5. One-year inflation expectations fell to 4.4% from 5%, and five-year outlook declined to 3.6% from 4% -- both the lowest readings since February.

Michigan researchers said inflation remains the dominant concern for consumers, with meaningful sentiment improvement unlikely until price stability improves.

U.S. Treasury yields declined, with the 10-year yield down 3.1 basis points to 4.43%, and the two-year falling 4.4 basis points to 3.87%.

On the corporate front, Charles Schwab ( SCHW ) topped Q2 expectations, adding over 1 million new brokerage accounts and recording a jump in trading revenue.

Industrial giant 3M ( MMM ) raised its full-year earnings outlook after delivering better-than-expected quarterly results.

American Express ( AXP ) posted a robust quarter buoyed by strong card member spending and reaffirmed its 2025 guidance.

In commodities, WTI crude rose 0.5% to $67.85 a barrel.