01:36 PM EDT, 10/09/2024 (MT Newswires) -- US equity indexes rose and most government bond yields advanced as investors awaited September's consumer price inflation amid declining crude oil prices.

The Nasdaq Composite rose 0.4% to 18,259.3, with the S&P 500 up 0.6% to 5,783.9 and the Dow Jones Industrial Average 0.9% higher at 42,474. The communication services sector was the steepest among the trio of decliners intraday, while financials led the gainers.

Following the blockbuster nonfarm payrolls report last Friday, investors will assess whether the Federal Reserve can afford to follow through on its guidance of shifting focus away from inflation as that will influence the policy path this year and next. September's consumer price inflation data are due Thursday, with the headline and core rates likely to continue easing month-over-month.

The Federal Open Market Committee should proceed cautiously as it lowers interest rates so that it can be prepared for any surprises, Dallas Federal Reserve Bank President Lorie Logan said at the Future of Global Energy Conference.

"If the economy evolves as I currently expect, a strategy of gradually lowering the policy rate toward a more normal or neutral level can help manage the risks and achieve our mandated goals," Logan said. "It should go without saying, though, that the future is uncertain. Any number of shocks could influence what that path to normal will look like, how fast policy should move and where rates should settle."

Most US Treasury yields rose intraday, with the 10-year yield up three basis points to 4.07% and the two-year rate 2.8 basis points higher at 4.01%.

Israeli Prime Minister Benjamin Netanyahu warned the Lebanese people they face falling "into the abyss of a long war" as his country escalates its attacks on Hezbollah, CNN reported. West Texas Intermediate crude oil fell 1% to $72.83 a barrel.

The CBOE Volatility Index, also known as the fear gauge for investors, dropped 2.6% to 20.87.

In economic news, wholesale inventories rose 0.1% in August, revised down from a 0.2% gain in the advance reading and following a 0.2% increase in July. Analysts in a survey compiled by Bloomberg expected August inventories to be unrevised from the advance estimate.

Mortgage applications fell by 5.1% in the week ended Oct. 4 as the strong September employment report drove mortgage rates to their highest level since August, according to data released by the Mortgage Bankers Association on Wednesday. This follows a 1.3% decrease in overall activity in the week ended Sept. 27.

In company news, Citigroup upgraded Norwegian Cruise Line ( NCLH ) to buy from neutral while raising its price target to $30 from $20. Shares of the cruise liner traded nearly 11% higher intraday, the top performer on the S&P 500. Citigroup adjusted rival Carnival's (CCL) price objective to $28 from $25. Carnival's shares were up 7.2% intraday, the second-biggest gainer on the index.

Boeing ( BA ) said it withdrew its latest pay offer to striking workers following a breakdown in negotiations with the International Association of Machinists and Aerospace Workers. Shares of the aircraft manufacturer dropped 2.6% intraday, among the worst performers on the S&P 500 and the Dow.

Gold fell 0.3% to $2,626.20 an ounce, while silver rose 0.2% to $30.67.