02:08 PM EDT, 05/14/2025 (MT Newswires) -- US benchmark equity indexes were mixed intraday as traders analyzed the Organization of the Petroleum Exporting Countries' latest monthly report and comments by a Federal Reserve official.

The Dow Jones Industrial Average was down 0.3% at 42,001.4 after midday Wednesday, while the S&P 500 fell 0.1% to 5,879.8. The Nasdaq Composite rose 0.4% to 19,078.8. Among sectors, health care saw the biggest drop, while communication services paced the gainers.

The OPEC maintained its global oil demand projections for 2025 and 2026, but reduced its world and US economic growth forecasts for this year.

"Trade-related uncertainties have continued to weigh on the outlook for the US economy, particularly through their impact on consumer confidence and inflationary pressures," the cartel said. "While no definitive resolution to the ongoing trade disputes has been reached, the overall trajectory continues to point toward gradual de-escalation, as seen with China and the UK."

West Texas Intermediate crude oil was down 0.5% at $63.37 a barrel intraday.

Fed Vice Chair Philip Jefferson said monetary policymakers are facing "a challenge" due to an uncertain economic outlook.

There is "much uncertainty" around the future trajectory of inflation, Jefferson said. "If the increases in tariffs announced so far are sustained, they are likely to interrupt progress on disinflation and generate at least a temporary rise in inflation."

Mortgage applications in the US edged higher last week as 30-year fixed interest rates steadied, the Mortgage Bankers Association said.

US Treasury yields were higher intraday, with the 10-year rate rising 2.1 basis points to 4.52% and the two-year rate increasing 2.3 basis points to 4.04%.

In company news, Super Micro Computer ( SMCI ) shares were up nearly 15%, the best performer on the S&P 500. The artificial intelligence server maker and Saudi Arabian data center company DataVolt signed a multiyear partnership deal valued at $20 billion.

Advanced Micro Devices ( AMD ) rose 4.2% after the chipmaker launched a new $6 billion share repurchase program.

American Eagle Outfitters ( AEO ) shares were down 5.3%. The clothing retailer said late Tuesday it expected to record a fiscal first-quarter operating loss amid inventory charges on its spring and summer merchandise. The company withdrew its full-year outlook due to macro uncertainties.

Gold was down 1.8% at $3,189.10 per troy ounce, while silver lost 2% to $32.43 per ounce.