12:45 PM EDT, 05/24/2024 (MT Newswires) -- US equity indexes rose after midday Friday as investors weighed the strength in the monthly consumer sentiment and durable goods data.

The Nasdaq Composite climbed 1.1% to 16,922.4, with the S&P 500 up 0.7% to 5,306.8 and the Dow Jones Industrial Average 0.3% higher at 39,171.6. Except for healthcare, all the other sectors rose intraday, led by communication services, utilities, and consumer discretionary.

In economic news, the University of Michigan consumer sentiment index was revised upward on Friday to 69.1 for May from 67.4 in the preliminary estimate, compared with expectations for 67.7 in a survey compiled by Bloomberg. That was still below the final reading of 77.2 in April.

Respondents to the Michigan survey saw a 3.3% inflation rate over the next year, up from 3.2% in April and the highest since November, while their expectation for annual inflation over the next five years remained at 3%.

Orders for tangible items with an average life of at least three years increased 0.7% sequentially last month to about $284.07 billion, following a downwardly revised 0.8% gain in March, the Census Bureau said. The consensus in a survey compiled by Bloomberg was for a 0.8% decrease in April.

The US 10 Treasury yield was little changed at 4.47%, and the two-year yield rose 1.3 basis points to 4.95%, respectively.

In company news, Workday (WDAY) shares fell 14% intraday, the worst performer on the Nasdaq, as the cloud human resources company lowered its full-year subscription sales outlook amid slowing headcount growth despite recording better-than-expected fiscal Q1 results.

The second-worst performer on the index was Intuit (INTU), whose shares dropped 8% intraday after the chipmaker issued a downbeat earnings outlook for its ongoing fiscal Q4.

Ross Stores ( ROST ) jumped nearly 10% intraday, the highest return on the S&P 500 and the Nasdaq, as the discount store chain lifted its full-year earnings outlook.

West Texas Intermediate crude oil rose 1.1% to $77.73 a barrel.