04:28 PM EDT, 03/13/2024 (MT Newswires) -- US benchmark equity indexes ended Wednesday's session mixed, as investors awaited official producer prices data for February, scheduled to be released Thursday.

The Nasdaq Composite fell 0.5% to 16,177.8, while the S&P 500 eased 0.2% to 5,165.3, following a record close Tuesday. The Dow Jones Industrial Average rose 0.1% to 39,043.3. Technology led the sector decliners, while energy paced the gainers.

Government data are likely to show Thursday that the US producer price index rose 0.3% sequentially and 1.1% annually last month, according to a Bloomberg-compiled consensus.

On Tuesday, Bureau of Labor Statistics data showed US consumer inflation accelerated in February.

The hotter-than-expected consumer inflation reports for January and February reinforce the opinion that price pressures have accelerated at the start of 2024, Stifel said in a note. "The lack of convincing evidence suggests the (Federal Reserve) may be on hold for much, much longer than the market expected, as (Federal Open Market Committee) members continue to wait for a clear-cut and well-established downward trend indicating the current level of rates is sufficient to reinstate price stability."

The US 10-year yield rose 3.5 basis points to 4.19% Wednesday, while the two-year rate advanced 3.1 basis points to 4.63%.

Mortgage applications in the US increased for the second consecutive week as interest rates across most loan types continued to fall, the Mortgage Bankers Association said.

West Texas Intermediate crude oil advanced 2.8% to $79.74 per barrel Wednesday. Commercial crude stockpiles in the US decreased by 1.5 million barrels to 447 million barrels through the week ended March 8, according to the Energy Information Administration. The consensus estimate on Bloomberg was for an increase of 1 million barrels.

In company news, Dollar Tree ( DLTR ) swung to an unexpected fiscal Q4 net loss, weighed down by charges related to a review of its stores portfolio. The discount retailer also issued a downbeat profit outlook for the current three-month period. Its shares slumped 14%, the steepest decline on the S&P 500 and the Nasdaq.

Intel ( INTC ) shares fell 4.4%, the worst performer on the Dow and among the steepest on the S&P 500 and the Nasdaq. The technology giant's $3.5 billion grant under Chips and Science Act is facing caveats as the Pentagon scrapped plans to provide its $2.5 billion share, Bloomberg News reported Tuesday.

3M ( MMM ) shares rose 5.4%, the top performer on the Dow and among the best on the S&P 500. The industrial conglomerate said Tuesday that it appointed William Brown as chief executive, succeeding Michael Roman, effective May 1.

Gold gained 0.6% to $2,178.20 per troy ounce, while silver surged 3.1% to $25.15 per ounce.