02:22 PM EDT, 08/21/2025 (MT Newswires) -- US benchmark equity indexes were lower intraday amid a post-earnings selloff in Walmart ( WMT ) shares as traders assessed the latest economic data.

The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite were all down 0.4% each after midday Thursday. The Dow reached 44,774.7, the S&P 500 was at 6,372.6, while the Nasdaq fell to 21,090.8. Barring energy and health care, all sectors were in the red, led by consumer staples.

In company news, Walmart ( WMT ) shares were down 4.8%, the steepest decline on the Dow and the second-worst on the S&P 500. The retail giant's fiscal second-quarter earnings missed Wall Street's views, while the company raised its full-year outlook amid expectations for continued market share gains.

Nordson's ( NDSN ) shares were up 4.5%, among the top gainers on the S&P 500. The precision technology company late Wednesday logged fiscal third-quarter results above market estimates, buoyed by double-digit revenue growth in two of its main segments.

Intuit (INTU), Workday (WDAY), Ross Stores ( ROST ) , and Zoom Communications ( ZM ) are scheduled to report after the closing bell Thursday.

US Treasury yields were higher intraday, with the two-year rate rising 5.2 basis points to 3.8% and 10-year rate increasing 3.4 basis points to 4.33%.

In economic news, US private-sector output growth reached an eight-month high in August, though tariff-related cost pressures drove the fastest growth in selling prices over the past three years, according to S&P Global's ( SPGI ) flash purchasing managers' index.

Weekly applications for unemployment insurance in the US rose more than expected, while continuing claims reached their highest level since November 2021, government data showed.

"The latest rise in initial jobless claims hints at some new softening in labor market conditions, but we can't infer anything conclusive from one week's data, particularly in a week when seasonal factors lent an upside bias to the headline figure," Oxford Economics said.

Existing home sales in the US unexpectedly rose in July as price growth nearly stalled, data from the National Association of Realtors showed.

"Despite more listings, buying activity remains muted amid elevated mortgage rates, the poorest affordability in decades and a slowing job market," BMO Capital Markets said.

West Texas Intermediate crude oil was up 1.3% at $63.54 a barrel intraday.

Kansas City Fed President Jeffrey Schmid said the US central bank still has more work to do on inflation, CNBC reported Thursday.

"We're in a really good spot, and I think we really have to have very definitive data to be moving that policy rate right now," Schmid reportedly said. "I think there's a lot to be said between now and September."

Separately, Atlanta Fed President Raphael Bostic said that he still thinks the Federal Open Market Committee can reduce its benchmark lending rate once in 2025, Reuters reported.

On Wednesday, minutes from the FOMC's July meeting showed that a majority of policymakers saw potential inflation pressures outweighing risks to the labor market. Participants also indicated that it would take time to gain more clarity on the exact impact of tariffs on prices.

Federal Reserve Chair Jerome Powell is scheduled to speak in Jackson Hole, Wyoming, on Friday. Traders will be assessing his comments for any hints on an interest rate cut next month.

The probability of a 25-basis-point rate reduction in September fell to about 74% Thursday from 82% Wednesday, according to the CME FedWatch tool. The odds of another pause rose to nearly 27% from 18%.

Gold was down 0.2% at $3,382 per troy ounce, while silver rose 0.8% to $38.09 per ounce.