02:38 PM EST, 01/13/2025 (MT Newswires) -- US benchmark equity indexes were mostly lower after midday Monday amid a decline in certain technology stocks as markets awaited inflation data and bank earnings due later in the week.

The tech-heavy Nasdaq Composite was down 0.8% at 19,018.4 intraday, while the S&P 500 fell 0.1% to 5,819.3. The Dow Jones Industrial Average rose 0.7% to 42,213.5. Among sectors, tech and utilities saw the biggest drops, while energy led the gainers.

Nvidia ( NVDA ) shares fell 2.6%, the steepest decline on the Dow, with Apple ( AAPL ) and Microsoft ( MSFT ) also among the worst performers on the index.

Micron Technology ( MU ) was the second-worst performer on the Nasdaq, down 4%, with Palantir Technologies ( PLTR ) and Palo Alto Networks ( PANW ) also seeing declines.

Moderna ( MRNA ) shares slumped nearly 20%, the biggest decline on the S&P 500, after the drugmaker cut its full-year revenue outlook. The company said it aims to reduce cash costs by $1 billion in 2025 amid its ongoing cost efficiency program.

Humana (HUM) was the top gainer on the S&P 500, up 7.4%, as Wells Fargo ( WFC ) adjusted its price target on the health insurer's stock to $337 from $315.

Johnson & Johnson ( JNJ ) agreed to acquire Intra-Cellular Therapies ( ITCI ) for about $14.6 billion in cash to strengthen its neuroscience portfolio. The healthcare product conglomerate's shares rose 1.6%, among the best Dow performers, while Intra-Cellular surged 34%.

JPMorgan Chase ( JPM ) , Bank of America ( BAC ) , Wells Fargo ( WFC ) , Morgan Stanley ( MS ) , Goldman Sachs ( GS ) , and Citigroup ( C ) are set to report their latest quarterly financial results later this week.

The US 10- and two-year yields were little changed at 4.78% and 4.39%, respectively, intraday.

The official US producer price report for December is scheduled to be released Tuesday, followed by consumer inflation data on Wednesday.

US consumers' median inflation expectations were unchanged at 3% at the one-year horizon in December, a survey by the Federal Reserve Bank of New York showed Monday. Their inflation outlooks rose to 3% from 2.6% at the three-year horizon, but dropped to 2.7% from 2.9% at the five-year horizon.

West Texas Intermediate crude oil jumped 3% to $78.86 a barrel intraday. "Oil prices rallied, driven by wider US sanctions on Russian oil and the expected hit to China and India's supplies," D.A. Davidson said in a note to clients.

Gold was down 1.4% at $2,676.70 per troy ounce, while silver tumbled 3.5% to $30.24 per ounce.