04:30 PM EDT, 03/12/2025 (MT Newswires) -- US benchmark equity indexes closed mixed on Wednesday as the US consumer inflation report showed higher-than-expected deceleration in February.

The Nasdaq Composite rose 1.2% to 17,648.5, while the S&P 500 increased 0.5% to 5,599.3. The Dow Jones Industrial Average was down 0.2% to 41,350.9. Technology and communication were the top gainers among sectors, while consumer staples had the steepest drop.

US Treasury yields were higher, with the 10-year rate gaining about 2.9 basis points to 4.3% and the two-year rate was up 5.2 basis points to 4%.

April West Texas Intermediate crude oil increased 2.2% to $67.68 a barrel.

In economic news, the US consumer price index increased 0.2% sequentially and 2.8% annually last month, compared with Bloomberg survey expecting 0.3% and 2.9%, respectively.

"This was a well-behaved CPI inflation report that will raise expectations for an even tamer core [personal consumption expenditures] inflation print later this month," BMO said. "This will calm market fears that consumer inflation is meaningfully heating up again and getting away from the [Federal Reserve's] goal even before new tariffs on goods imports hit."

Mortgage applications in the US increased for the second consecutive week as declining home financing rates drive refinancing activity, the Mortgage Bankers Association said Wednesday.

In company news, Tesla (TSLA) shares were up 7.6%, despite the 11% decline in vehicle registrations in the US in January, Automotive News reported, citing S&P Global Mobility data.

Palantir Technologies ( PLTR ) was among the top performers on the S&P 500 with shares up 7.2%, a day after the company entered a partnership with Ondas ( ONDS ) autonomous systems business to support the global expansion of its autonomous drone systems.

Synchronoss Technologies ( SNCR ) shares jumped 40%, a day after the company reported a Q4 swing to profit as net revenue climbed.

Estee Lauder ( EL ) shares fell 4.5%. Adobe (ADBE) said that the beauty care firm is using its generative artificial intelligence platform Firefly in digital market campaigns.

Gold gained 0.8% to $2,943.40 per troy ounce, while silver was up 1.8% to $33.75 per troy ounce.