02:24 PM EDT, 10/02/2024 (MT Newswires) -- US benchmark equity indexes were higher intraday as markets parsed the latest batch of economic data and remarks by a Federal Reserve official.

The Dow Jones Industrial Average and the Nasdaq Composite were up 0.2% each at 42,222.2 and 17,953.8, respectively, while the S&P 500 rose 0.1% to 5,712.5 after midday Wednesday. Among sectors, only technology and energy were in the green, while consumer discretionary and consumer staples saw the steepest declines.

In economic news, employment growth in the US private sector accelerated in September, while wage growth cooled, Automatic Data Processing ( ADP ) said.

"One should never put too much into the monthly ADP report," TS Lombard said in a note. "That it came in above expectations raises the probability that the (Bureau of Labor Statistics) numbers on Friday will fall short."

Data from the BLS is expected to show the US economy added 150,000 nonfarm jobs in September, which would mark an acceleration from the 142,000 gain posted for the previous month, according to a survey compiled by Bloomberg.

Mortgage applications in the US declined last week as higher interest rates drove refinance activity lower, the Mortgage Bankers Association said.

The US 10-year yield rose 3.8 basis points to 3.78% intraday, while the two-year rate was little changed at 3.63%.

Richmond Fed President Tom Barkin said he's "not yet confident nor cynical enough" to announce victory over inflation as there's still significant uncertainty around both inflation and employment.

Last month, the central bank lowered its benchmark lending rate by 50 basis points, its first cut since March 2020.

"As we decide how fast to move and how far to go during this rate-reduction cycle, we are just going to need to be attentive and learn as we go," Barkin said Wednesday.

West Texas Intermediate crude oil rose 0.7% to $70.29 a barrel intraday.

In company news, Caesars Entertainment ( CZR ) said it plans to offer $1 billion of senior notes due 2032 in a private placement. The company's shares rose 6.4%, the top gainer on the S&P 500.

Humana (HUM) shares plunged nearly 13%, the worst performer on the S&P 500, after the health insurer said that the number of members enrolled in 2025 Medicare Advantage plans with a quality rating of at least four stars is expected to plunge, likely affecting its 2026 revenue and bonus payments.

Nike ( NKE ) saw the steepest decline on the Dow and one of the steepest on the S&P 500, down 6.2%. Late Tuesday, the sportswear giant withdrew its full-year guidance and postponed its investor day following the appointment of a new chief executive announced last month. The company's fiscal first-quarter results fell year over year.

Gold was down 0.7% at $2,671.30 per troy ounce, while silver rose 0.8% to $31.98 per ounce.