01:24 PM EDT, 09/23/2024 (MT Newswires) -- US equity indexes traded mixed after midday Monday as S&P Global's manufacturing and services gauges slowed and top Federal Reserve officials charted the course for monetary policy easing in coming months.

The S&P 500 index rose 0.1% to 5,710.2, and the Nasdaq Composite less than 0.1% lower at 17,950.2 and the Dow Jones Industrial Average little changed at 42,070.3. All sectors, except healthcare, technology, and communication services, rose intraday. Consumer discretionary led the gainers.

In economic news, the September flash reading of manufacturing conditions from S&P Global fell to a 15-month low of 47.0 from 47.9 in August, below 48.6 expected in a survey compiled by Bloomberg. The index suggests contraction, in contrast with the Empire State and Philadelphia Federal Reserve's manufacturing gauges released earlier.

The services conditions index slid to a two-month low of 55.4 in September from 55.7 in August but was slightly above expectations for 55.2. The composite declined to 54.4 in September from 54.6 in August, a two-month low. The services index indicates expansion in line with the New York Fed's services index released on Sept. 17.

Meanwhile, Atlanta Fed President Raphael Bostic told a conference on Monday that current economic conditions merit cutting interest rates toward the estimated "neutral" level in a cautious, patient, and data-dependent manner.

Bostic said that last Wednesday's larger-than-usual cut of 50 basis points wasn't a precursor to cadence of similar moves, with his view being that the still-high level of shelter inflation and resilient condition of the labor market merited a cautious, patient, and data-dependent approach from here.

However, Chicago Fed President Austan Goolsbee said interest rates need to be "significantly" reduced to protect the labor market and support the economy. "As we've gained confidence that we are on the path back to 2%, it's appropriate to increase our focus on the other side of the Fed's mandate -- to think about risks to employment," Goolsbee said at a Chicago event Monday. "That likely means many more rate cuts over the next year."

Most US Treasury yields were down, but the 10-year rose less than one basis point to 3.73%.

In company news, General Motors ( GM ) plans to lay off 1,695 workers at its Fairfax assembly facility in Kansas, Reuters reported Saturday. The automaker's shares slumped nearly 3% intraday, the worst performer on the S&P 500.

Apollo Global Management ( APO ) has offered to invest as much as $5 billion in Intel ( INTC ) , Bloomberg News reported. Intel ( INTC ) shares rose more than 3%, the top performer on the Dow and the S&P 500.

West Texas Intermediate crude oil futures dropped 1% to $70.19 a barrel.

Gold rose 0.3% to $2,653.31 an ounce, while silver fell 1.4% to $31.07.