12:24 PM EDT, 06/13/2024 (MT Newswires) -- US equity indexes traded mixed while government bond yields fell by midday on Thursday after the wholesale price inflation rate unexpectedly declined.

The Dow Jones Industrial Average slid 0.7% to 38,446.1, with the S&P 500 down 0.2% to 5,411.2. The Nasdaq Composite, however, rose less than 0.1% to 17,615.5. While down, the Nasdaq and the S&P 500 are trading close to record highs.

Industrials, communication services, and energy were the steepest decliners intraday. Technology and real estate were the sole gainers.

In economic news, the US producer price index fell 0.2% last month, swinging from a 0.5% gain in April. The Bloomberg-polled consensus was for a 0.1% increase.

Meanwhile, initial jobless claims increased by 13,000 to 242,000 in the week ended June 8. The consensus was for a dip to 225,000 in a survey of analysts compiled by Bloomberg.

The US 10-year yield dropped 3.9 basis points to 4.26%, and a 5.9 basis-point slump in the two-year pushed the yield to 4.69%.

West Texas Intermediate crude oil retreated 0.2% to $78.31 a barrel.

In company news, Broadcom ( AVGO ) surged 13% intraday, the top gainer on the S&P 500 and the Nasdaq, after the chipmaker reported an increase in fiscal Q2 earnings and sales while raising its revenue guidance for the full financial year.

Liberty Global ( LBTYA ) said Thursday it plans to acquire Warner Bros. Discovery's ( WBD ) equity stake in the Formula E electric car racing series, increasing the telecom company's ownership stake to 65%. Shares of Warner Bros. slumped 5.6% intraday, the second-worst performer on the Nasdaq.