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Fed's Bowman says rates should remain steady for some time

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Consumer confidence data in line with forecasts

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Spirit AeroSystems ( SPR ) falls after report of Boeing ( BA ) deal

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Indexes: Dow down 0.38%, S&P up 0.16%, Nasdaq up 0.66%

(Updated at 10:03 a.m. ET/1403 GMT)

By Ankika Biswas and Lisa Pauline Mattackal

June 25 (Reuters) -

The Nasdaq jumped on Tuesday as Nvidia ( NVDA ) and other AI-linked

stocks rose after bruising selloffs, while the Dow slipped from

a one-month high as investors awaited key inflation data this

week for further cues on the Fed's monetary policy path.

AI chip firm Nvidia ( NVDA ) advanced 3.3%, recouping

some losses after three consecutive declining sessions. The

stock has still lost 11% since a record high close last week.

The U.S. listing of Taiwan Semiconductor Manufacturing

, Broadcom ( AVGO ) and Qualcomm ( QCOM ) were up between

0.5% and 1.6%, while an index of semiconductor stocks

gained 0.8% after slumping over 3% in the previous session.

The S&P 500 technology sector gained 1.0%,

recovering some of Monday's losses.

Sectors including utilities and energy

pulled back after rising in Monday's session, while the

industrial and material sectors led

declines.

The Dow pulled back from a one-month high,

dragged down by losses in consumer discretionary and industrial

stocks, while the small-cap index also lost 0.5%.

Technology and other growth stocks have driven the S&P

500 and the Nasdaq to record highs this year, but the

value-focused Dow continues to significantly lag the other

indexes, causing some to raise concerns over the sustainability

of equity strength.

The June reading of the U.S. consumer confidence index

slipped to 100.4 from a revised 101.3 the month prior, but was

in line with expectations.

"If the economic data continues to weaken, equities

might have to take a breather unless and until a September rate

cut gets more likely," said John Velis, Americas macro

strategist at BNY Mellon.

Market participants see 61% odds of a 25-basis point

interest rate cut in September, and are eyeing around two cuts

by the end of the year, according to LSEG's FedWatch data.

The most closely watched event of the week will be the

latest reading of the personal consumption expenditures (PCE)

price index - the Fed's preferred inflation gauge - on Friday.

Fed Governor

Michelle Bowman

said she still does not forecast any reduction in the U.S.

benchmark interest rate this year.

At 10:03 a.m. ET, the Dow Jones Industrial Average

was down 150.00 points, or 0.38%, at 39,261.21, the S&P 500

was up 8.94 points, or 0.16%, at 5,456.81, and the Nasdaq

Composite was up 115.77 points, or 0.66%, at 17,612.58.

Among others, Spirit AeroSystems ( SPR ) dropped 5.3%. A

report showed Boeing ( BA ) has offered to acquire the airplane

fuselage maker in a deal funded mostly by stock that values its

key supplier at about $35 per share. Boeing ( BA ) shares slipped 1.7%.

Carnival Corp ( CCL ) gained 3.7% after raising its

annual profit forecast, banking on higher prices for its

itineraries and sustained demand for cruise holidays.

Trump Media & Technology Group ( DJT ) rose 5.1%, extending

Monday's strong gains. The company had announced it expected

$69.4 million in proceeds from cash exercise of warrants.

Declining issues outnumbered advancers for a 2.07-to-1 ratio

on the NYSE. Declining issues outnumbered advancers for a

1.66-to-1 ratio on the Nasdaq.

The S&P index recorded 11 new 52-week highs and two new

lows, while the Nasdaq recorded 18 new highs and 80 new lows.