US equity indexes rose in choppy midday trading Wednesday as investors weighed a deceleration in services with disappointing big-tech results overnight.

The Nasdaq Composite rose less than 0.1% to 19,676.6. The S&P 500 added 0.2% to 6,049.2, and the Dow Jones Industrial Average climbed 0.3% to 44,667.5 after both mainstream indexes declined earlier in the session. Consumer discretionary and communication services led the laggards, while real estate and technology were among the top gainers intraday.

Alphabet (GOOG, GOOGL) shares slumped 7% intraday after the company reported late Tuesday Q4 revenue that trailed analysts' estimates. Meanwhile, Advanced Micro Devices (AMD) stock was nearly 7% lower after the chipmaker overnight reported weaker-than-expected data center sales for Q4 and guided to a sequential decline in Q1 revenue. Shares of the duo were among the worst performers on the S&P 500 and the Nasdaq.

In economic news, the Institute for Supply Management's US services index fell to 52.8 in January from 54 in December, compared with expectations for no change in a survey compiled by Bloomberg. The index indicates slower expansion, which is in line with the Richmond Fed, Dallas Fed, and the S&P Global indexes but in contrast with the New York Fed, Kansas City, and Philadelphia Fed measures that signaled contraction.

US Treasury yields fell, with the 10-year down 9.5 basis points to 4.42% and the two-year 4.6 basis points lower at 4.17%.

West Texas Intermediate crude oil futures dropped 2.1% to $71.16 a barrel.

US commercial crude oil stocks, excluding the Strategic Petroleum Reserve, rose by 8.7 million barrels in the week ended Jan. 31 after a 3.5-million-barrel gain in the previous week and a 1.9-million-barrel increase expected in a survey compiled by Bloomberg.