05:00 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 saw the steepest declines among sectors, while technology paced the gainers.

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

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

In a bid to tame inflation, the central bank's Federal Open Market Committee tightened monetary policy by 525 basis points from March 2022 through July 2023, but has since kept interest rates unchanged, with its latest pause coming late last month.

The US 10-year yield fell 3.7 basis points to 3.91% Monday, while the two-year rate dropped 3.2 basis point to 4.02%.

West Texas Intermediate crude oil jumped 3.6% to $79.62 a barrel.

The Wall Street Journal reported that Israel has put its military on high alert in the light of elevated concerns regarding a potential Iranian and Hezbollah response to the assassination of militant leaders in Tehran and Beirut.

The Organization of the Petroleum Exporting Countries cut its 2024 and 2025 global oil demand forecasts amid slowing growth prospects in China this year.

In company news, JetBlue Airways' ( JBLU ) shares slumped nearly 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 ) was among the top gainers on the S&P 500 and the Nasdaq, up 4.1%. The technology giant is set to report stronger-than-expected fiscal second-quarter results later this month amid strength in its data center business, UBS Securities said in a note.

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

The S&P 500 companies' results have so far helped counter bearish expectations of an earnings recession, Oppenheimer Asset Management said in a Monday note to clients. Some 455 companies in the benchmark equity index have already reported results in the current cycle, with the overall performance more positive than negative, according to the note.

Gold and silver rose 1.6% each to $2,512.30 per troy ounce and $28.04 per ounce, respectively.