02:10 PM EDT, 05/13/2024 (MT Newswires) -- US benchmark equity indexes were mixed after midday Monday, as a survey showed consumers' rising short- and long-term inflation expectations, while markets awaited key prices data due later this week.

The Dow Jones Industrial Average was down 0.2% at 39,446 intraday, while the S&P 500 fell 0.1% to 5,219.9. The Nasdaq Composite rose 0.3% to 16,382. Among sectors, communication services and energy saw the steepest declines. Technology was the sole gainer.

In economic news, US consumers' one- and five-year inflation expectations increased in April, while the home price growth outlook hit the highest level since July 2022, according to a survey by the Federal Reserve Bank of New York.

Separately, a survey published by the Cleveland Fed showed that inflation expectations among US business leaders rose in the second quarter. Chief executives and other top executives expect inflation, as measured by the consumer price index, to be 3.8% over the next 12 months, up from 3.4% in January.

Government data due Wednesday are likely to show US consumer inflation rose 0.4% sequentially and 3.4% annually in April, according to a Bloomberg-compiled consensus. Official producer prices data for last month are scheduled to be released Tuesday.

"Should inflation remain at current levels or push slightly higher still, which remains our base case forecast, the Fed will have little if any wiggle room to provide relief, keeping rates at today's relatively elevated level, potentially through the entirety of the current year," Stifel said in a note.

The central bank's Federal Open Market Committee tightened monetary policy by 525 basis points from March 2022 through July 2023 to tame inflation. It has kept interest rates unchanged since then, with its latest pause coming earlier this month.

The US 10-year yield fell 2.9 basis points to 4.48% intraday, while the two-year rate declined 1.7 basis points to 4.85%.

In company news, Paccar ( PCAR ) shares fell 2.1%, the second-steepest decline on the Nasdaq, as Evercore ISI adjusted its price target on the stock to $109 from $101.

Fortrea ( FTRE ) lowered its full-year revenue outlook as the clinical development and patient access solution provider's first-quarter results missed market expectations. Its shares slid nearly 16%.

Incyte ( INCY ) was among the top gainers on the S&P 500, up 7.4%, after the company's board authorized a $2 billion share buyback program.

Walgreens Boots Alliance ( WBA ) is seeking potential buyers for the 7 billion-British-pound ($8.8 billion) Boots drugstore chain in the UK, Bloomberg News reported, citing unnamed sources. Walgreens Boots shares were up 5.3%, among the best performers on the S&P 500 and the Nasdaq.

West Texas Intermediate crude oil rose 0.8% to $78.86 per barrel intraday.

Gold was down 1.3% at $2,343.70 per troy ounce, while silver fell 0.1% to $28.48 per ounce.