12:30 PM EDT, 06/03/2024 (MT Newswires) -- US benchmark stock indexes traded mixed after technology sector gains lifted the Nasdaq Composite, while crude oil slumped as a manufacturing gauge showed worsening activity.

The Nasdaq Composite rose 0.4% to 16,793.1 after midday on Monday. The S&P 500 declined 0.2% to 5,269.2, and the Dow Jones Industrial Average slid 0.6% to 38,461.3. Technology, communication services, and healthcare were the only gainers intraday. Energy was the steepest decliner, followed by industrials and materials.

West Texas Intermediate crude oil sank 3.3% to $74.45 a barrel.

In economic news Monday, the Institute for Supply Management's US manufacturing index fell to 48.7 in May from 49.2 in April, compared with expectations for 49.6 in a survey compiled by Bloomberg.

US home prices cooled for the second consecutive month in April amid softening purchase demand and improving inventory deficits, a report by Intercontinental Exchange (ICE) showed. Annually, home price growth eased to 5.1% in April from a revised 5.7% the previous month and 6.1% in February, according to the report.

US construction spending fell 0.1% in April, compared with a 0.2% increase expected in a survey compiled by Bloomberg and an unrevised 0.2% decrease in March.

The US Dollar index declined 0.4% to 104.21.

The US 10-year Treasury yield plunged 10.4 basis points to 4.41%, and the two-year yield slumped 7.2 basis points to 4.82%.

In company news, Paramount Global ( PARAA ) and Skydance have agreed to terms of a merger that the duo will likely announce in the coming days, CNBC's David Faber reported Monday. Shares of Paramount jumped 7.5% intraday, the top performer on the S&P 500.