02:31 PM EDT, 09/24/2024 (MT Newswires) -- US benchmark equity indexes were mostly higher intraday as markets parsed the latest economic data.

The Nasdaq Composite was up 0.6% at 18,073.1 after midday Tuesday, while the S&P 500 rose 0.2% to 5,728.9. The Dow Jones Industrial Average was little changed at 42,125.8. Among sectors, materials paced the gainers, while financials saw the biggest drop.

In economic news, US consumer confidence dropped to 98.7 in September from 105.6 last month, the Conference Board said.

September's drop was the largest since August 2021, Conference Board Chief Economist Dana Peterson said. Consumers were "more pessimistic" regarding future labor market conditions and less positive about future business conditions, Peterson said.

US home prices increased in July to a 14th straight monthly record, though the pace of annual growth decelerated to the slowest level of 2024, S&P Global (SPGI) division S&P Dow Jones Indices said.

Separately, the Federal Housing Finance Agency said home prices edged up 0.1% on a seasonally adjusted basis in July, while June's 0.1% decrease was revised up to a flat level. The consensus was for a 0.2% rise in a survey compiled by Bloomberg.

The US 10-year yield rose one basis point to 3.75% intraday, while the two-year rate fell 1.9 basis points to 3.56%.

On Wednesday, the Federal Reserve lowered its benchmark lending rate by 50 basis points. Fed Governor Michelle Bowman reiterated Tuesday that she preferred a 25-basis-point cut amid inflation concerns.

"I preferred a smaller initial cut in the policy rate while the US economy remains strong and inflation remains a concern, despite recent progress," she said in remarks at a Kentucky Bankers Association event on Tuesday.

On Monday, Atlanta Fed President Raphael Bostic and Minneapolis Fed President Neel Kashkari said the FOMC made the right decision last week, though future policy moves are likely to be determined by incoming economic data.

West Texas Intermediate crude oil increased 1.5% to $71.41 a barrel intraday.

In company news, PDD's (PDD) US-listed shares were up 10%, the top performer on the Nasdaq.

Nvidia ( NVDA ) was the second-best performer on the Nasdaq and among the top gainers on the S&P 500, up 4.5%.

Visa (V) will face a Justice Department lawsuit as soon as Tuesday alleging that it has illegally monopolized the debit card market in the US, Bloomberg News reported, citing unnamed sources. Visa shares fell 4.6%, the worst Dow performer and among the steepest on the S&P 500.

KB Home ( KBH ) , Progress Software ( PRGS ) and Worthington Enterprises ( WOR ) are scheduled to report their latest quarterly financial results after Tuesday's closing bell.

Gold was up 0.9% at $2,676.60 per troy ounce, while silver jumped 4.2% to $32.39 per ounce.