01:46 PM EDT, 07/05/2024 (MT Newswires) -- US benchmark equity indexes were mixed intraday after official data showed the economy added more jobs than expected in June.

The Nasdaq Composite was up 0.7% at 18,314.4 after midday Friday, while the S&P 500 gained 0.3% to 5,555.1. The Dow Jones Industrial Average fell 0.1% to 39,273. Among sectors, communication services led the gainers, up 2.3%, while energy saw the steepest decline.

US markets were closed Thursday in observance of Independence Day.

In economic news, total nonfarm payrolls in the US climbed by 206,000 last month, the Bureau of Labor Statistics reported. The consensus was for a 190,000 gain, according to a survey compiled by Bloomberg. The unemployment rate edged up to 4.1% from May's 4%, which was the market view for June.

The latest report shows "more signs of cooling" in the labor market, Oxford Economics said in a note to clients. "Federal Reserve officials have become increasingly focused on the downside risks to the labor market, and the June data bolster our forecast for the Fed to cut rates in September and at every other meeting thereafter."

The US two-year yield fell 7.5 basis points to 4.61% intraday, while the 10-year rate dropped 6.5 basis points to 4.28%.

New York Fed President John Williams said that although policymakers have made progress in their fight against inflation, they still have "a way to go" to reach their target, Reuters reported.

"We have seen significant progress in bringing (inflation) down," Williams reportedly said. However, "we still have a way to go to reach our 2% target on a sustained basis. We are committed to getting the job done."

On Tuesday, Fed Chair Jerome Powell reportedly said the central bank's Federal Open Market Committee has made "quite a bit of progress" in bringing inflation back to its target, but it needs to see more encouraging data before lowering interest rates.

West Texas Intermediate crude oil was down 0.2% at $83.68 a barrel intraday.

In company news, Constellation Brands ( STZ ) shares rose 2.7%, among the top gainers on the S&P 500, as UBS, Jefferies and JPMorgan upgraded their respective price targets on the stock. Earlier this week, the beer and wine company reported that its earnings and revenue rose year over year during the fiscal first quarter, while it maintained its full-year revenue outlook.

Micron Technology ( MU ) saw the steepest decline on the Nasdaq and was among the worst performers on the S&P 500, down 3.4%.

Gold was up 1.2% at $2,396.70 per troy ounce, while silver jumped 3% to $31.77 per ounce.