US Stocks Trade Mixed
US stocks exchanged gains and losses on Wednesday as markets assessed the latest economic data and tariff threats, while navigating conflicting reports on whether President Trump may force the exit of Fed Chair Powell.
The S&P 500 was flat while the Dow gained 50 points and the Nasdaq 100 eased 0.2%. Equities had slipped reports that White House officials would fire Powell, only to pare losses after Trump noted that his termination would be unlikely. In the meantime, producer prices were unchanged in June, defying expectations for a slight increase, with the decline largely driven by a drop in services costs.
Bank of America fell 1.5% after the lender reported lower revenues than expected and Goldman Sachs was flat after reporting a profit surge, while Morgan Stanley lost 3% despite releasing stronger-than-expected second-quarter results. Elsewhere, Johnson & Johnson gained 6% after beating earnings expectations and raising its full-year outlook.
Source: Trading Economics
