02:23 PM EDT, 05/09/2025 (MT Newswires) -- US benchmark equity indexes were mixed intraday as investors parsed comments by a Federal Reserve governor and awaited upcoming trade talks between US and Chinese officials.

The Dow Jones Industrial Average was down 0.2% at 41,302.8, while the S&P 500 rose 0.1% to 5,688.9. The Nasdaq Composite was little changed at 17,942.1. Among sectors, communication services saw the biggest drop, while energy paced the gainers.

Fed Governor Michael Barr said the US government's trade tariffs are likely to raise inflation and unemployment amid an expected economic slowdown.

"The (Federal Open Market Committee) may be in a difficult position if we were to see both rising inflation and rising unemployment," Barr said.

Earlier this week, the Fed held its benchmark lending rate steady for a third straight meeting and warned that upside risks to inflation and unemployment had increased.

US and Chinese officials are due to meet in Switzerland over the weekend to discuss economic and trade matters. Trump on Friday floated the idea of lowering tariffs on China to 80% from 145%.

"China should open up its market to USA -- would be so good for them," Trump said in a social media post on Friday.

On Thursday, Trump announced a trade deal with the UK. "Many trade deals in the hopper, all good (great!) ones," he said in a separate Friday social media post.

US Treasury yields were mixed intraday, with the two-year rate dropping 2.7 basis points to 3.87% and the 10-year rate little changed at 4.37%.

West Texas Intermediate crude oil was up 1.7% at $60.94 a barrel intraday. "Oil prices gained and were poised for a weekly gain as trade tensions between top oil consumers China and the (US) showed signs of easing," D.A. Davidson said in a client note.

In company news, CrowdStrike ( CRWD ) shares were down 4.5%, among the worst performers on the S&P 500 and the Nasdaq.

Insulet ( PODD ) shares jumped nearly 21%, the top performer on the S&P 500. The company late Thursday raised its full-year constant currency revenue growth outlook following a quarterly sales beat.

Lyft ( LYFT ) shares surged 26% intraday Friday. The ride-hailing company late Thursday unexpectedly swung to a first-quarter profit amid double-digit gains in gross bookings.

Gold was up 1.2% at $3,347 per troy ounce, while silver rose 1% to $32.95 per ounce.