US Equity Indexes Mixed as Investors Assess Stronger Q2 GDP Estimate, Nvidia's Results, Cook's Lawsuit

01:49 PM EDT, 08/28/2025 (MT Newswires) -- US equity indexes were mixed after midday Thursday as investors weighed a stronger-than-expected increase in an economic growth estimate alongside Nvidia's (NVDA) earnings and a lawsuit to prevent the ouster of Federal Reserve Governor Lisa Cook.

The Dow Jones Industrial Average was little changed at 45,574.2, while the S&P 500 rose 0.2% to 6,495.1 and the Nasdaq Composite was 0.5% higher at 21,695.4. Healthcare led the decliners intraday, while the communication services sector was the top gainer.

US gross domestic product was revised upward to a 3.3% jump in Q2 from a 3% gain in the advance estimate, above the 3.1% increase expected in a survey compiled by Bloomberg. GDP fell by 0.5% in Q1.

Initial jobless claims fell to 229,000 in the week ended Aug. 23 from a downwardly revised 234,000 in the previous week, compared with expectations for a decrease to 230,000 in a Bloomberg-compiled survey of analysts. The four-week moving average rose 2,500 to 228,500 compared with a downwardly revised 226,000 in the previous week.

Nvidia (NVDA) reported Q2 results overnight. While overall revenue rose year-over-year, Nvidia's (NVDA) data center compute products, such as its graphics processing units, declined 1% sequentially, driven by a $4 billion decrease in H20 sales, Chief Financial Officer Colette Kress said in a statement.

For the current quarter, Nvidia (NVDA) projected $54 billion in revenue, plus or minus 2%, but said its forecast assumes no H20 shipments to China.

Liz Claman of Fox Business wrote Thursday in a post on X that Nvidia (NVDA) Chief Executive Officer Jensen Huang has said that he is in talks with the Trump administration about selling the Blackwell artificial intelligence chips to China and his willingness to give the US government a cut of those sales, citing an interview with the CEO.

Meanwhile, Fed Governor Cook filed a lawsuit Thursday in federal court contesting President Donald Trump's attempt to oust her from the Board of Governors over allegations she lied on mortgage applications, Bloomberg reported, citing court records.

Treasury yields were mixed in midday trading, with the 10-year yield down 2.9 basis points to 4.21% while the two-year rate rose 1.2 basis points to 3.64%.

The ICE US Dollar Index slid 0.4% to 97.79.

Silver futures jumped 1.4% to $39.24, and gold futures climbed 0.7% to $3,474.1.

Further, in corporate news, Hormel Foods (HRL) lowered its full-year earnings outlook on Thursday as the food maker's fiscal Q3 bottom line unexpectedly declined year over year amid rising commodity input costs. Shares slumped 13% intraday, the steepest decline on the S&P 500.

The second-worst performer in the index was Cooper (COO), down nearly 11% intraday after the company overnight lowered its fiscal 2025 revenue guidance.

West Texas Intermediate crude oil futures fell 0.6% to $63.81 a barrel.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.