12:24 PM EDT, 09/30/2024 (MT Newswires) -- US equity indexes traded mixed after midday as government bond yields rose ahead of a speech from Federal Reserve Chair Jerome Powell on Monday afternoon.

The Dow Jones Industrial Average declined 0.2% to 42,208.7. The S&P 500 rose less than 0.1% to 5,742.4. The Nasdaq Composite climbed 0.2% to 18,152.8.

Energy and communication services led the gainers, while consumer discretionary and materials were among the decliners intraday.

Powell will speak about the economic outlook at a National Association for Business Economics meeting in Nashville, Tennessee, at 1:55 pm ET.

US Treasury yields rose intraday, with the 10-year yield up 2.6 basis points to 3.78% and the two-year rate 4.5 basis points higher at 3.61%.

In economic news, the Institute for Supply Management's Chicago PMI reading rose to 46.6 in September from 46.1 in August, above the 46.0 print expected in a survey compiled by Bloomberg. The index still indicates contraction, in line with the Richmond Fed, Kansas City, and the S&P Global flash indexes but in contrast with the Empire State and the Philadelphia Fed readings that signaled expansion.

In company news, CVS Health ( CVS ) leadership is facing a challenge by shareholder Glenview Capital in what could be the start of a push to oust management, news outlets reported, citing people familiar with the matter. Shares of CVS jumped 2.7% intraday, the top performer on the S&P 500.

West Texas Intermediate crude oil jumped 1% to $68.84 a barrel.