04:57 PM EDT, 05/14/2025 (MT Newswires) -- US equity benchmarks closed mixed Wednesday as traders digested comments by a Federal Reserve official and the Organization of the Petroleum Exporting Countries' latest monthly report.

The Nasdaq Composite rose 0.7% to 19,146.8, while the S&P 500 edged 0.1% higher to 5,892.6. The Dow Jones Industrial Average slipped 0.2% to 42,051.1. Most sectors were in the red, with health care dropping the most, while communication services led advancers.

Fed Vice Chair Philip Jefferson said monetary policymakers are facing an uncertain economic outlook.

There is "much uncertainty" around the future trajectory of inflation, Jefferson said. "If the increases in tariffs announced so far are sustained, they are likely to interrupt progress on disinflation and generate at least a temporary rise in inflation."

The OPEC maintained its global oil demand projections for 2025 and 2026, but reduced its world and US economic growth forecasts for this year.

"Trade-related uncertainties have continued to weigh on the outlook for the US economy, particularly through their impact on consumer confidence and inflationary pressures," the cartel said. "While no definitive resolution to the ongoing trade disputes has been reached, the overall trajectory continues to point toward gradual de-escalation, as seen with China and the UK."

The US and China recently agreed on a 90-day suspension of reciprocal duties on each other's goods. Last week, the Trump administration reached a trade agreement with the UK.

West Texas Intermediate crude oil was down 1.3% at $62.85 per barrel.

US government data on Wednesday showed a surprise build in commercial crude stockpiles last week as propane and propylene inventories increased.

Treasury yields were higher, with the 10-year rate rising 7.2 basis points to 4.56% and the two-year rate increasing five basis points to 4.07%.

In company news, Qatar Airways and Boeing ( BA ) said that the carrier will purchase up to 210 widebody jets, marking the largest widebody order for the aircraft manufacturer. Boeing's ( BA ) shares closed 0.6% higher.

Super Micro Computer ( SMCI ) jumped 16%, the best performer on the S&P 500. The artificial intelligence server maker and Saudi Arabian data center company DataVolt signed a multiyear partnership deal valued at $20 billion.

Advanced Micro Devices ( AMD ) rose 4.7%, among the biggest gainers on the S&P 500, after the chipmaker launched a new $6 billion share repurchase program.

American Eagle Outfitters ( AEO ) shares slumped 6.5%. The clothing retailer said late Tuesday it expected to record a fiscal first-quarter operating loss amid inventory charges on its spring and summer merchandise. The company withdrew its full-year outlook due to macro uncertainties.

Gold fell 2.1% at $3,180.90 per troy ounce, while silver lost 2.4% to $32.30 per ounce.