12:27 PM EDT, 06/10/2024 (MT Newswires) -- US benchmark stock indexes were mixed in choppy trading at midday on Monday as most government bond yields kicked off the week on a higher note ahead of the latest reads on inflation and monetary policy.

The Nasdaq Composite climbed 0.3% to 17,190.2, with the S&P 500 up 0.1% to 5,354.1. The Dow Jones Industrial Average slipped less than 0.1% to 38,775.4. All three indexes traded lower earlier in the session. Energy and utilities were among the top gainers intraday, while the financial sector was the steepest decliner.

The US 10-year yield jumped 3.3 basis points to 4.46%. The US Dollar index rose 0.3% to 105.21.

Federal Reserve officials are likely to reduce the number of interest rate cuts forecast for this year in Wednesday's dot-plot and lift their estimate of the long-run 'neutral rate,' supporting the US dollar, HSBC strategists said in a note Monday.

Noting the Federal Open Market Committee's two-day policy-setting rate decision meeting ends a few hours after the release of May consumer price index figures Wednesday, "the message should be similar to its recent statements. That is, the FOMC needs more confidence that inflation is moving sustainably towards 2 percent," HSBC's strategists said.

"A hawkish tone could also be reflected in the FOMC's dot plot," they added.

West Texas Intermediate crude oil advanced 2.4% to $77.37 a barrel.

In company news, Apple's ( AAPL ) artificial intelligence strategy, set to be revealed at the WWDC conference in Cupertino, California, is expected to trigger a surge in AI-driven growth for the iPhone and Services division in the coming years, Wedbush Securities said in a note on Sunday.

Shares of Nvidia ( NVDA ) , which executed its 10-for-1 stock split after the close on Friday, traded 1.2% higher post-split.