01:23 PM EDT, 06/18/2024 (MT Newswires) -- US benchmark equity indexes were mixed after midday Tuesday, as investors analyzed the latest macro data, including a report showing retail sales rose less than expected in May.

The S&P 500 was up 0.2% at 5,482.3, while the Dow Jones Industrial Average and the Nasdaq Composite were little changed at 38,783.6 and 17,859.7, respectively. Among sectors, technology and financials led the gainers. Communication services saw the steepest decline.

In economic news, retail sales in the US edged up 0.1% last month following April's downwardly revised 0.2% decline. Analysts were modeling for a 0.3% rise, according to a consensus survey compiled by Bloomberg.

"The retail sales report, along with softening labor market indicators, adds to the evidence of weakening demand that should continue to put downward pressure on consumer price inflation and keep the door open for a September [Federal Reserve] rate cut," BMO said in a note.

US industrial production rose 0.9% in May, compared with expectations for a 0.3% increase in a survey compiled by Bloomberg and an unrevised flat reading in April.

The US 10-year yield declined 5.8 basis points to 4.22% intraday, and the two-year rate dropped 5.5 basis points to 4.71%.

While recent inflation data has been "encouraging," the process of lowering inflation may take longer than expected, Boston Fed President Susan Collins said Tuesday.

"The data suggest an economy with demand and supply coming into better balance, as required to restore price stability," Collins said. "However, this process may just take more time than previously thought. It is too soon to determine whether inflation is durably on a path back to the 2% target."

West Texas Intermediate crude oil increased 0.7% to $80.91 a barrel intraday.

In company news, Micron Technology ( MU ) shares were up 3.8%, the best performer on the Nasdaq and among the top on the S&P 500. Wedbush Securities increased its price target on the stock to $170 from $130 while reiterating its outperform rating, saying it expects the company to deliver a quarterly beat amid higher average selling prices.

Teradyne ( TER ) was the second-best performer on the S&P 500, up 4.4%, as UBS raised its price target on the stock to $170 from $130 while maintaining its buy rating.

Lennar ( LEN ) shares were down 4.7%, the steepest decline on the S&P 500. The homebuilder's guidance for fiscal third-quarter home deliveries fell short of consensus at the midpoint late Monday, even though it recorded better-than-expected results in the preceding three-month period.

Gold was up 0.7% at $2,345.30 per ounce, while silver gained 0.5% to $29.55 per ounce.