Wall Street digested a surprisingly cool wholesale inflation reading and more big bank earnings, with one eye on Trump's latest tariff moves.

The Dow Jones and other key indexes pulled off lows on reports that President Trump considered firing the head of the Federal Reserve. ASML stock plunged on this warning.

Stock futures were mixed on Wednesday morning (July 16) as investors parsed second-quarter earnings from major banks and looked ahead to the release of June’s wholesale inflation data. Futures linked to the Dow Jones Industrial Average edged up 29 points,

Stocks rose on Wednesday, as investors weighed earnings releases from big banks and digested the latest wholesale inflation report.

Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation.

The Dow and S&P 500 fell, and the Nasdaq rose, on a busy day for the stock market as investors digest news on a China chips embargo, big bank earnings and CPI inflation data.

Viatris Inc. closed 34.10% below its 52-week high of $13.55, which the company achieved on November 25th.

Wall Street braced for another inflation checkup after Tuesday's consumer price reading spurred traders to pare bets on Fed rate cuts in the coming months.