02:17 PM EDT, 09/27/2024 (MT Newswires) -- US benchmark equity indexes were mixed intraday as traders assessed the latest economic data, including the Federal Reserve's preferred inflation measure.

The Nasdaq Composite was down 0.4% at 18,117.7 after midday Friday, while the S&P 500 fell 0.1% to 5,739.7. The Dow Jones Industrial Average rose 0.5% to 42,364.2. Among sectors, technology saw the steepest decline, while energy led the gainers.

In economic news, US consumer spending eased more than expected in August, while the Fed's preferred inflation metric rose year over year, but met Wall Street's estimates, government data showed.

The Fed's preferred core measure -- which excludes the volatile food and energy components -- increased 2.7% annually last month, compared with 2.6% in July. Sequentially, the core measure fell to 0.1% from 0.2%.

"The Fed's preferred core measure continues to head in the right direction, even though base effects are boosting the yearly pace," TD Economics said in a report. "Given that inflation continues to remain contained, the Fed will be paying even keener attention to labor market developments, with September payrolls data released next Friday as they calibrate further policy action."

US consumer sentiment rose to 70.1 in September from 67.9 last month, the University of Michigan reported. The consensus was for a 69.4 print in a survey compiled by Bloomberg.

The US two-year yield fell 6.2 basis points to 3.56% intraday, while the 10-year rate lost 4.2 basis points to 3.75%.

West Texas Intermediate crude oil rose 0.1% to $67.75 a barrel.

Dell Technologies' ( DELL ) shares fell 3.4%, among the steepest declines on the S&P 500. Lululemon Athletica ( LULU ) was among the best performers on the S&P 500 and the Nasdaq, up 4.9%.

Tesla (TSLA) is expected to report third-quarter vehicle deliveries above the Street's estimates amid strength in its key China market, along with price and demand stabilization, Wedbush Securities said in a client note. The electric vehicle maker's shares gained 2%.

Gold was down 1.1% at $2,666.80 per troy ounce, while silver dropped 1.8% to $31.75 per ounce.