12:35 PM EDT, 08/16/2024 (MT Newswires) -- US equity indexes ground higher, set for weekly gains, while most government bond yields declined in midday trading on Friday.

The Nasdaq Composite was up 0.2% to 17,631.4, with the S&P 500 up 0.1% to 5,551.8 and the Dow Jones Industrial Average 0.2% higher at 40,637.7. Real Estate was the steepest decliner while the communication services sector was the top gainer intraday.

Most Treasury yields fell, with the 10-year down 1.9 basis points to 3.91%, and the two-year rate slid less than one basis point to 4.09%.

The CBOE Volatility Index (VIX) declined 2.6% to 14.84, continuing to retreat from the 65-level touched recently on an intraday basis.

In economic news, the University of Michigan's preliminary consumer sentiment index rose to 67.8 in August from 66.4 in July, above the 66.9 anticipated in a survey compiled by Bloomberg. Respondents saw one-year inflation expectations at 2.9%, in line with July, while five-year inflation expectations remained at 3% for the fifth consecutive month.

Housing starts fell 6.8% to a seasonally adjusted annual rate of 1.24 million units in July from the downwardly revised 1.33 million print the month prior, the Census Bureau and the Department of Housing and Urban Development said. The consensus was for 1.33 million in a survey compiled by Bloomberg.

West Texas Intermediate crude oil slumped 1.6% to $76.90 a barrel amid concerns over the health of China's economy and easing geopolitical worries.

In company news, Tapestry (TPR) reported better-than-expected fiscal Q4 results and anticipates 2025 earnings to rise from a year earlier. Its shares climbed 3.5%, the top performer on the S&P 500.