12:21 PM EDT, 09/24/2024 (MT Newswires) -- US equity indexes rose in choppy trading as investors weighed the steepest slide in consumer confidence in more than three years with Federal Reserve Governor Michelle Bowman's renewed call for a gradual approach to easing monetary policy.

After midday Tuesday, the S&P 500 index rose 0.2% to 5,731.1. The Dow Jones Industrial Average advanced less than 0.1% to 42,186.6, after closing at a new record high in the previous trading session. The Nasdaq Composite climbed 0.6% to 18,088.2. The materials sector was the standout gainer while financials led the decliners intraday.

In economic news, the Conference Board's measure of consumer confidence fell to 98.7 in September from 105.6 in August, below the 104 expected in a survey compiled by Bloomberg. "September's decline was the largest since August 2021 and all five components of the index deteriorated," said Dana Peterson, chief economist at the Conference Board.

The Richmond Fed's monthly manufacturing index fell to minus 21 in September from minus 19 in August, compared with expectations for an increase to minus 12 in a survey compiled by Bloomberg.

US Federal Reserve Governor Michelle Bowman said Tuesday that policy restrictions should be eased gradually as inflation remains a concern despite recent progress and the labor market may not be as weak as the data has suggested. Bowman was the only dissent to the Federal Open Market Committee's decision to lower the target range for the federal funds rate by 50 basis points to 4.75% to 5% at its meeting last week.

US Treasury yields were mixed, with the 10-year yield up 1.3 basis points to 3.75% while the two-year rate was down 1.7 basis points to 3.56%.

In company news, Marriott International ( MAR ) partnered with Sands China, a Las Vegas Sands ( LVS ) subsidiary (LVS), to launch The Luxury Collection brand in Macao. Shares of Las Vegas Sands ( LVS ) traded 6.2% higher intraday, the second-biggest gainer on the S&P 500.

Visa (V) will face a US Justice Department lawsuit as soon as Tuesday alleging that it has illegally monopolized the debit card market in the US, Bloomberg reported, citing people familiar with the matter. Shares dropped 3.8% intraday, the worst performer on the Dow.

West Texas Intermediate crude oil futures jumped 1.6% to $71.52 a barrel.