02:15 PM EDT, 10/21/2024 (MT Newswires) -- US benchmark equity indexes were mostly lower after midday Monday as investors awaited the latest financial results from major companies due later in the week.

The Dow Jones Industrial Average was down 0.7% at 42,966.3 intraday, while the S&P 500 fell 0.3% to 5,848.9. The Nasdaq Composite was little changed at 18,495.5. Among sectors, real estate saw the steepest decline, while technology was the sole gainer.

Tesla (TSLA), Boeing ( BA ) , Coca-Cola (KO), T-Mobile US ( TMUS ) , IBM ( IBM ) , GE Aerospace (GE), Philip Morris International ( PM ) , Verizon Communications ( VZ ) , AT&T ( T ) , Lockheed Martin ( LMT ) , United Parcel Service ( UPS ) and Southwest Airlines ( LUV ) are among the major companies expected to report their latest quarterly results later this week.

Nucor ( NUE ) , W. R. Berkley ( WRB ) and Logitech International ( LOGI ) are scheduled to report after Monday's closing bell.

In company news, Microchip Technology ( MCHP ) shares were down 3.2%, the second-steepest decline on the Nasdaq, as Susquehanna adjusted its price target on the stock to $95 from $105.

Boeing ( BA ) was the best performer on the Dow and among the best on the S&P 500, up 3.3%. The plane maker has reached a new tentative labor deal with the International Association of Machinists and Aerospace Workers union to end a strike, Boeing ( BA ) and the union said Saturday.

Kenvue ( KVUE ) shares were up 6.2% intraday Monday, the top gainer on the S&P 500. Hedge fund Starboard Value has acquired a stake in the company, media outlets reported Sunday, citing unnamed sources.

The US 10-year yield jumped 9.9 basis points to 4.17% intraday, while the two-year rate rose 6.6 basis points to 4.02%.

West Texas Intermediate crude oil increased 2.5% to $70.96 a barrel. "Oil prices were up, following a more than 7% drop last week on worries about demand in China, and an easing of concerns about potential supply disruptions in the Middle East," D.A. Davidson said in a note to clients.

The Federal Reserve should "gradually" reduce its benchmark lending rate to help manage risks to inflation and the labor marketm assuming the economy evolves as projected, Dallas Fed President Lorie Logan said.

Although the economy is strong and stable, the macro outlook continues to face "meaningful" uncertainties, Logan said. Downside risks to the labor market have grown, while inflation poses "diminished but still real upside" risks, she added.

Gold was up 0.3% at $2,737.50 per troy ounce, while silver gained 2.4% to $34.05 per ounce.