04:32 PM EDT, 08/12/2024 (MT Newswires) -- US benchmark equity indexes closed mixed Monday as markets awaited key inflation data due later in the week.

The Dow Jones Industrial Average fell 0.4% to 39,357, while the Nasdaq Composite rose 0.2% to 16,780.6. The S&P 500 was little changed at 5,344.4. Real estate and communication services posted the steepest declines among sectors, while technology paced the gainers.

In economic news, the official US producer price report for July is scheduled to be released Tuesday, while consumer inflation data are due Wednesday. The consumer price index last month is expected to have increased 0.2% sequentially and 3% annually, according to a Bloomberg-compiled consensus.

"Coupled with a cooler July employment report, any minimal improvement in price pressures will likely be enough to prompt the proverbial green light to reduce the federal funds rate," Stifel said Monday in a note.

US consumers' inflation expectations for the medium term fell to a record last month, while short- and longer-term outlooks held steady, the Federal Reserve Bank of New York said Monday.

The US two-year yield fell 4.2 basis points to 4.01%, while the 10-year rate dropped 3.8 basis point to 3.90%.

West Texas Intermediate crude oil jumped 3.6% to $79.63 a barrel. The Organization of the Petroleum Exporting Countries cut its 2024 and 2025 global oil demand forecasts amid slowing growth prospects in China this year.

Separately, The Wall Street Journal reported Israel put its military on high alert amid elevated concerns regarding a possible Iranian and Hezbollah response to the assassination of militant leaders in Tehran and Beirut.

In company news, JetBlue Airways' ( JBLU ) shares slumped 21% after the air carrier announced plans for a $400 million private placement of convertible senior notes due 2029.

KeyCorp ( KEY ) secured a $2.8 billion investment from Bank of Nova Scotia ( BNS ) in return for a minority stake in the US bank. KeyCorp ( KEY ) shares jumped 9.1%, the top gainer on the S&P 500, while Scotiabank's US-listed stock fell 3.6%.

Nvidia ( NVDA ) shares rose 4.1%, among the top gainers on the S&P and the Nasdaq. The technology giant is set to report stronger-than-expected fiscal Q2 results later this month amid strength in its data center business, UBS Securities said.

Retail giants Walmart ( WMT ) and Home Depot ( HD ) are scheduled to report financial results later in the week.

S&P 500 company results helped counter bearish expectations of an earnings recession, Oppenheimer Asset Management said in a note. Some 455 companies in the benchmark equity index reported results in the current cycle with the overall performance more positive than negative, the note said,

Gold rose 1.5% to $2,511.60 per troy ounce, while silver rose 1.6% to $28.02 per ounce.