01:13 PM EDT, 08/15/2025 (MT Newswires) -- US equity indexes were mixed in midday trading before Friday's Alaska summit and as investors weighed rising inflation expectations against a declining albeit still-high probability of an interest-rate cut in September.

The Nasdaq Composite fell 0.4% to 21,634.6, and the S&P 500 slipped 0.2% to 6,457.2. The Dow Jones Industrial Average rose 0.3% to 45,034.9. The S&P 500 hit a record for the fourth consecutive day, and the Dow touched its all-time high earlier in the session.

Healthcare led intraday gains, while technology and financials declined.

Presidents Donald Trump and Vladimir Putin are set to meet in Alaska later Friday to discuss a peace deal in the Ukraine-Russia war.

Before the talks, investors bought assets that could benefit from a Ukraine ceasefire or eased Russian sanctions, Bloomberg reported. Ukrainian bonds rallied, as did shares of companies poised for Ukraine's reconstruction and European banks with operations in Russia, according to the report.

The University of Michigan's preliminary consumer sentiment index declined to 58.6 in August from 61.7 in July, below expectations for an increase to 62.0 in a survey compiled by Bloomberg. Respondents' one-year inflation forecasts at 4.9% were up from 4.5% in July, while five-year inflation outlook climbed to 3.9% from 3.4%.

US retail sales rose 0.5% in July sequentially following an upwardly revised 0.9% rise in June, according to the Census Bureau. The consensus compiled by Bloomberg called for a 0.6% gain. On an annual basis, retail sales rose 3.9%, marking a slowdown from a 4.4% jump in June.

"Although labor market conditions are softening, the mighty consumer continues to showcase resiliency," BMO Capital Markets Senior Economist Priscilla Thiagamoorthy said in a note. "That, combined with still-stirring price pressures, will keep Fed officials cautious."

Business inventories rose by 0.2% in June, as expected in a survey compiled by Bloomberg and following a flat reading in the previous month.

By Friday afternoon, the odds of a 25-basis-point cut in September stood at 87%, down from 92% a day earlier, according to the CME FedWatch Tool. The remaining 13% probability is for the fed funds rate to remain unchanged next month, compared with 44% a month earlier.

Most Treasury yields rose, with the 10-year yield rising 3.5 basis points to 4.33% and the two-year rate climbing 1.8 basis points to 3.76%.

The ICE US Dollar Index dropped 0.4% to 97.85.

In company news, UnitedHealth Group ( UNH ) advanced 14% intraday, the top gainer on the Dow and the S&P 500, after Berkshire Hathaway (BRK.A, BRK.B) disclosed in a filing that it purchased over 5 million shares of UnitedHealth ( UNH ) in Q2.

West Texas Intermediate crude oil futures declined 1.2% to $63.21 a barrel.

Gold futures rose 0.1% to $3,385.1 per ounce, while silver futures fell 0.4% to $37.94.