02:16 PM EDT, 10/08/2024 (MT Newswires) -- US benchmark equity indexes were mostly higher after midday Tuesday as markets awaited official inflation data for September due later in the week.

The Nasdaq Composite was up 1% at 18,103.9 intraday, while the S&P 500 rose 0.7% to 5,732.9. The Dow Jones Industrial Average was little changed at 41,964.2. Among sectors, technology led the gainers. Only energy and materials were in the red.

Official data are likely to show Thursday that US consumer inflation rose 0.1% sequentially and 2.3% annually last month, according to a Bloomberg-compiled consensus.

"Our expectations are for declines in energy prices to keep the (sequential) gains in headline (consumer price index) more muted than those for core," Deutsche Bank said in a note. "Should our expectations hit the mark, the year-over-year growth rate of headline CPI would drop (30 basis points) to 2.3%, while that for core would tick down a tenth to 3.2%."

The US producer prices report for September is scheduled to be released Friday.

The US 10-year yield rose one basis point to 4.03% intraday Tuesday, while the two-year rate fell 3.7 basis points to 3.97%.

In economic news, small business optimism in the US improved less than expected last month as inflation continued to pose concerns among business owners, the National Federation of Independent Business' latest survey showed.

"Uncertainty makes owners hesitant to invest in capital spending and inventory, especially as inflation and financing costs continue to put pressure on their bottom lines," NFIB Chief Economist Bill Dunkelberg said.

The US trade deficit narrowed in August as exports grew while imports dipped, government data showed.

"The resolution of the dockworkers strike earlier this month ensures supply chain disruptions would be minimal and removes a key risk to trade outlook," Oxford Economics said.

West Texas Intermediate crude oil fell 3.9% to $74.12 a barrel intraday. "A rally in oil prices paused as traders awaited for a response from Israel to last week's Iranian rocket attacks," D.A. Davidson said in a note to clients.

In company news, Palo Alto Networks ( PANW ) shares were up 4.9%, the top performer on the Nasdaq and the second-best on the S&P 500, as Goldman Sachs increased its price target on the stock to $425 from $376 and maintained its buy rating.

PepsiCo ( PEP ) tempered its full-year organic revenue growth outlook as the beverage and snacks company's third-quarter earnings beat Wall Street estimates, while sales fell short of market expectations. The company's shares were up 1.4%.

Super Micro Computer ( SMCI ) saw the steepest decline on the Nasdaq and the second-steepest on the S&P 500, down 6.9%.

Gold was down 1.2% at $2,634.70 per troy ounce, while silver declined 4.3% to $30.62 per ounce.