12:36 PM EDT, 04/19/2024 (MT Newswires) -- US benchmark stock indexes were mixed in midday trading on Friday after technology and communication services declined and investors shrugged off Israel's retaliatory military action against Iran.

The S&P 500 fell 0.8% to 4,972.2, and the Nasdaq Composite slid 1.8% to 15,320 The Dow Jones Industrial Average climbed 0.2% to 37,836.5. Among sectors, consumer discretionary and materials also declined. Energy and utilities led the gainers.

In premarket activity Friday, the Dow and the Nasdaq were down as much as 130 points each, while the S&P 500 fell about 25 points. Overnight, Israel launched a retaliatory strike on Iran with explosions heard in the city of Isfahan. Iran said its nuclear site is "completely safe" as it shut airspace over the western part of the country and its capital. Israel's drone operation was relatively limited in scale and didn't cause much damage.

Chicago Fed President Austan Goolsbee said progress made by the Federal Reserve in easing inflationary pressures has "stalled," and it "makes sense" to extend the pause rather than cut interest rates. Higher-for-longer rates tend to be bearish for technology, communication services and consumer discretionary sectors.

Among the mega-caps leading the communication services lower intraday, Netflix ( NFLX ) tumbled 8.6%, the biggest drop on the Nasdaq. The company on Thursday reported Q2 revenue guidance that trailed expectations.

Apollo Global Management ( APO ) and Sony ( SONY ) are discussing a joint bid for Paramount Global ( PARAA ) , media reports said. Shares of Paramount surged 7.9%, the biggest gain on the S&P 500.

The US 10-year Treasury yield fell 4.1 basis points to 4.61%, and the two-year dropped 2.6 points to 4.96%.

West Texas Intermediate crude oil rose 0.4% at $83.05 a barrel touching $81.80 earlier.

Gold rose 0.4% to $2,408.5 per ounce, and silver climbed 0.9% to $28.63.