02:06 PM EST, 12/02/2024 (MT Newswires) -- US benchmark equity indexes were mixed intraday as traders assessed two reports showing that the manufacturing sector remained in contraction territory in November.

The Nasdaq Composite was up 0.9% at 19,387.4 after midday Monday, while the S&P 500 rose 0.2% to 6,044.9. The Dow Jones Industrial Average fell 0.3% to 44,777.6. Among sectors, communication services led the gainers, while utilities saw the biggest drop.

In economic news, the Institute for Supply Management's manufacturing purchasing managers' index rose to 48.4 last month from 46.5 in October.

"US manufacturing activity contracted again in November, but at a slower rate compared to last month," said Timothy Fiore, chair of the ISM's manufacturing business survey committee. "Demand continues to be weak but may be moderating, output declined again, and inputs stayed accommodative."

Separately, S&P Global ( SPGI ) said its US manufacturing PMI increased to 49.7 in November from 48.5 the month prior.

"The mood among US manufacturers brightened in November, though any feel-good factor has yet to feed through to higher output on the factory floor," S&P Global Market Intelligence Chief Business Economist Chris Williamson said.

The US two-year yield was up 2.8 basis points at 4.20% intraday, while the 10-year rate was little changed at 4.19%.

In company news, Super Micro Computer ( SMCI ) shares jumped nearly 30%, the best performer on the S&P 500 and the Nasdaq. The artificial intelligence server maker said that an independent special committee found no evidence of misconduct or fraud on the part of management or its board. The company said David Weigand will continue as chief financial officer until the board names a successor.

Intel ( INTC ) said that Chief Executive Pat Gelsinger retired Sunday, while the chipmaker created a products CEO role as it works toward a leaner operating structure. The company's shares were up 1.7% intraday.

US-listed shares of Stellantis ( STLA ) slumped 6.6% after the automaker said Sunday that CEO Carlos Tavares resigned more than a year before his contract was set to expire.

S&P 500 companies' latest quarterly earnings are up 8.2% from a year earlier, while revenue has grown 5.1%, indicating a "robust" performance as the reporting cycle nears its end, Oppenheimer Asset Management said in a Monday note to clients.

Online spending on Black Friday advanced in line with expectations, reaching $10.8 billion, according to Adobe (ADBE) Analytics' holiday shopping data.

West Texas Intermediate crude oil ticked 0.1% lower to $67.93 a barrel intraday.

The US economy is on "solid footing," while the labor market seems stable at or around maximum employment, said Raphael Bostic, president of the Federal Reserve Bank of Atlanta.

"Though my baseline outlook is positive, we cannot afford to be sanguine," Bostic said. "The path ahead for monetary policy is not preset."

Gold was down 0.9% at $2,657.50 per troy ounce, while silver fell 0.8% to $30.87 per ounce.