12:39 PM EDT, 05/20/2024 (MT Newswires) -- US equity indexes traded mixed while government bond yields rose after midday Monday as investors weighed remarks from top Federal Reserve officials on the path ahead for monetary policy.

The Dow Jones Industrial Average traded little changed at 40,003.1, erasing earlier gains. The S&P 500 rose 0.3% to 5,319.8 and the Nasdaq Composite climbed 0.6% to 16,792.6.

Technology paced the gainers. Nvidia, a strong contributor to the sector rally since late last year, is scheduled to release quarterly earnings Wednesday.

The US 10-year Treasury yield rose 2.3 basis points to 4.44%, and the two-year rate climbed 1.4 basis points to 4.84%.

Recent data show that inflation is still behind the Fed's 2% target and suggests that holding interest rates at a restrictive level for a time is needed, Federal Reserve Vice Chair for Supervision Michael Barr said.

Atlanta Federal Reserve Bank President Raphael Bostic said in an interview with Bloomberg that inflation will "continue to fall for this year and into 2025," but prices will ease slower than many expected.

In company news, Norwegian Cruise Line ( NCLH ) shares jumped 8.5%, the biggest gain on the S&P 500, after the company increased i2024 adjusted earnings guidance due to "strong demand and an improved outlook for the year." Rivals Carnival (CCL) rose 7.4%, the second-biggest increase on the S&P, and Royal Caribbean Cruises ( RCL ) climbed 5.6%.

West Texas Intermediate crude oil slipped 0.4% to $79.72 a barrel.