12:24 PM EDT, 05/28/2024 (MT Newswires) -- US benchmark stock indexes traded mixed Tuesday as Nvidia ( NVDA ) helped push the Nasdaq Composite to a record high, and investors focused on the macroeconomic data due in the holiday-shortened week ahead.

The Nasdaq Composite was up 0.5% at 17,008.1, surpassing the 17,000 mark for the first time. Shares of Nvidia ( NVDA ) were up 6.1% intraday, the top performer on the Nasdaq and the S&P 500, which climbed 0.1% to 5,304.2. The Dow Jones Industrial Average fell 0.4% to 38,916.4.

Technology and energy led the gainers, while healthcare and consumer staples were the steepest decliners.

April's inflation print based on the personal consumption expenditures index will arrive on Friday, and the question is the degree to which the Federal Reserve's preferred inflation gauge will follow the Consumer Price Index released on May 15, according to a note from Scotiabank Monday. In its latest reading, the CPI was up 0.3% month over month, with core CPI up 0.3%. Consensus splits between 0.2% and 0.3% for core PCE for April.

A 0.2% core PCE print could reinforce pricing for interest rate cuts this year, while 0.3% could push against such decision, Derek Holt, head of capital markets economics at Scotiabank, said in the note. Following a holiday-extended weekend to observe Memorial Day, "investors keenly awaiting PCE inflation data," a note from D.A. Davidson said early on Tuesday.

Other macroeconomic data that investors will closely watch this week includes the second estimate for Q1 gross domestic product on Thursday and a flurry of comments from top Fed officials.

The US 10 Treasury yield rose 2.9 basis points to 4.5%, while the two-year yield fell less than one basis point to 4.94%.

West Texas Intermediate crude oil jumped 2.7% to $79.81 a barrel.