02:13 PM EST, 11/14/2024 (MT Newswires) -- US benchmark equity indexes were lower intraday as markets assessed the latest producer prices report.

The Dow Jones Industrial Average and the S&P 500 were down 0.3% each at 43,819 and 5,969.4, respectively, after midday Thursday. The Nasdaq Composite fell 0.2% to 19,194.7. Among sectors, industrials saw the biggest drop, while technology led the gainers.

In economic news, US producer price growth accelerated in October sequentially as wholesale costs of goods rebounded, the Bureau of Labor Statistics reported. BLS data showed Wednesday that US consumer inflation increased in line with market estimates last month.

"The details from the (consumer price index) and PPI reports this week signal that prices rose at a faster pace in October, but the details don't point to accelerating inflation," Oxford Economics said.

The odds of policymakers lowering their benchmark lending rate by 25 basis points next month dropped to 75% Thursday from 83% Wednesday, according to the CME FedWatch tool. The probability of interest rates remaining unchanged rose to 25%.

The US 10-year yield fell 4.3 basis points to 4.41% intraday, while the two-year rate was little changed at 4.28%.

Federal Reserve Chair Jerome Powell is scheduled to speak at 3 pm ET.

Policymakers need to pay attention to both sides of their mandate amid a "continued but slowing trend in disinflation and cooling labor markets," Fed Governor Adriana Kugler said.

"If any risks arise that stall progress or reaccelerate inflation, it would be appropriate to pause our policy rate cuts," Kugler said. "If the labor market slows down suddenly, it would be appropriate to continue to gradually reduce the policy rate."

Last week, the central bank's Federal Open Market Committee cut rates by 25 basis points, following a 50-basis-point reduction in September.

West Texas Intermediate crude oil was down 0.3% at $68.21 a barrel intraday. The International Energy Agency increased its 2024 global oil demand outlook as consumption in advanced economies rebounded in the third quarter.

On Tuesday, the Organization of the Petroleum Exporting Countries trimmed its 2024 and 2025 global oil demand projections for the fourth straight month.

In company news, Super Micro Computer ( SMCI ) shares were down 8.4% intraday, the steepest decline on the Nasdaq and among the worst on the S&P 500. On Wednesday, the artificial intelligence server maker said it cannot file its quarterly report for the period ended Sept. 30 on time.

Walt Disney's ( DIS ) fiscal fourth-quarter results exceeded market expectations on Thursday, buoyed by its streaming business. The media and entertainment giant said it expects adjusted earnings growth in fiscal 2025 year over year. The company's shares rose 6.1%, the top performer on the Dow and among the best on the S&P 500.

Tapestry (TPR) terminated its proposed acquisition of Michael Kors and Versace parent Capri (CPRI) due to uncertainty regarding regulatory approvals. Tapestry shares jumped 12%, the best performer on the S&P 500, while Capri advanced 4.1%.

Applied Materials ( AMAT ) is scheduled to report results after Thursday's closing bell, along with other companies.

Gold was down 0.5% at $2,573.10 per troy ounce, while silver lost 0.4% to $30.55 per ounce.