12:22 PM EDT, 09/10/2025 (MT Newswires) -- US equity indexes were mixed in midday trading on Wednesday after the wholesale price inflation rate fell for the first time in four months, belying market expectations.

The Nasdaq Composite rose 0.2% to 21,930.4, after scaling a new peak of 22,000.97. The S&P 500 was 0.4% higher at 6,539.5, after touching an all-time high of 6,555.97. The Dow Jones Industrial Average, however, fell 0.4% to 45,520.8.

Technology was the standout gainer intraday, followed by utilities. Consumer staples and healthcare led the decliners intraday.

The producer price index fell 0.1% in August, after a downwardly revised 0.7% increase in July, the Bureau of Labor Statistics reported Wednesday. A Bloomberg-compiled survey forecast a 0.3% gain. Annually, producer prices growth decelerated to 2.6% from 3.1%, lagging analysts' estimate for a 3.3% increase.

Markets are pricing a 90% probability the Federal Open Market Committee will lower interest rates by 25 basis points on Sept. 17, with the remaining 10% odds in favor of a 50-basis-point cut, according to the CME FedWatch tool. A week ago, the probabilities were 97% and zero, respectively. This means the Fed is all set to restart its easing cycle after remaining on pause for several months.

US Treasury yields fell, with the 10-year down 2.9 basis points to 4.05%.

In company news, Oracle (ORCL) shares soared 40% intraday, the top performer on the S&P 500, after the technology giant overnight reported higher fiscal Q1 results and said its contract backlog will likely exceed half a trillion dollars amid strong demand over the coming months.