12:14 PM EDT, 06/14/2024 (MT Newswires) -- US benchmark stock indexes slipped following muted gains in technology and after a closely monitored consumer sentiment index surprisingly declined.

The Dow Jones Industrial Average slid 0.6% to 38,433.2, with the S&P 500 down 0.3% to 5,417.2, and the Nasdaq Composite less than 0.1% lower at 17,664.4.

All sectors except for technology and communication services retreated intraday. Consumer discretionary, energy, and industrials led the decliners.

The University of Michigan's preliminary consumer sentiment index fell to 65.6 in June from 69.1 in May, versus expectations for an increase to 72 in a survey compiled by Bloomberg. Respondents saw one-year inflation expectations at 3.3%, in line with May, while five-year inflation forecasts rose to 3.1% from 3%.

Meanwhile, US import prices fell 0.4% in May, below the 0.1% decrease expected in a survey compiled by Bloomberg and following a 0.9% gain in April. Excluding a 1.7% drop in petroleum prices, import prices slid 0.3% in May after a 0.6% April increase. Export prices fell 0.6% in May, compared with expectations for a 0.1% gain following a 0.6% increase in April.

The US 10-year yield dropped 3.1 basis points to 4.21%. The two-year yield was little changed at 4.69%.

In company news, Adobe (ADBE) rallied 15%, the top performer in the S&P 500 and the Nasdaq, after the company reported an increase in fiscal Q2 non-GAAP earnings and revenue while raising its full-year adjusted EPS outlook.

BofA Securities upgraded Hasbro ( HAS ) to buy from neutral while adjusting its price target to $80 from $70. Hasbro ( HAS ) shares were up 5.5% intraday, the second-biggest gainer on the S&P 500.

West Texas Intermediate crude oil retreated 0.2% to $78.48 a barrel.