03:41 PM EDT, 07/23/2025 (MT Newswires) -- US benchmark equity indexes are on track to close higher Wednesday, after President Donald Trump's Japan trade deal featured tariffs that are lower than expected.

The Dow Jones Industrial Average was up 1% to 44,961.88, while the S&P 500 rose 0.7% to 6,353.30. Nasdaq Composite gained 0.5% to 21,000.08. Among sectors, healthcare led the gainers while utilities and consumer staples were the only decliners.

Lamb Weston ( LW ) shares were up 17%, the top gainer on the S&P 500. The company reported fiscal Q4 results above Wall Street estimates and unveiled a cost-savings program to enhance profitability.

GE Vernova ( GEV ) was the second-top gainer on the S&P 500, up 14%. The company's Q2 earnings and revenue exceeded Street's estimates and it now expects 2025 revenue towards the higher end of $36 billion to $37 billion.

Fiserv ( FI ) shares sank 15%, the worst performer on the S&P. The company agreed to buy a portion of Toronto-Dominion Bank's ( MLWIQXX ) merchant processing business in Canada for an undisclosed amount. Fiserv ( FI ) reported Q2 adjusted earnings and revenue that rose year-over-year and beat consensus expectations.

The 10-year US Treasury yield was up 4.2 basis points to 4.39%, while the two-year rate increased 4.5 basis points to 3.90%.

September West Texas Intermediate crude oil rose 0.2% to $65.43 a barrel.