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

Stocks were mostly lower, with the 30-year bond yield up, after conflicting reports about whether President Trump is looking to fire Federal Reserve Chair Jerome Powell soon.

Futures on the Dow Jones Industrial Average climbed while other major indexes dipped Wednesday, as Wall Street awaited more key inflation data. Meanwhile, chip stock ASMLASML plunged on the stock market today after the company warned it couldn't guarantee growth in 2026 due to tariff uncertainty.

Dow Inc. (NYSE:DOW) is one of the stocks that bleed heavily. Dow Inc. declined for a second day on Monday, losing 4.4 percent to close at $28.25 apiece as investors repositioned portfolios ahead of the release of its earnings results next week.

The Dow Jones Industrial Average is set to achieve a golden cross today, a potentially bullish sign for the index. Golden crosses happen when the short-term moving average of a stock or index passes its long-term moving average,

Stock futures are little changed Wednesday ahead of the release of wholesale inflation data as earnings reports from banks and other major companies stream in.

June inflation data released Tuesday represented an increase from May levels, despite the headline numbers matching expectations.

The Dow Jones Industrial Average is up Wednesday afternoon with shares of Johnson & Johnson and Amgen seeing positive momentum for the index. Shares of Johnson & Johnson and Amgen have contributed to the index's intraday rally,

Trump’s tariffs and the trade war continue to roil global markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

Dow will shut down three upstream plants in Europe and cut around 800 jobs in response to structural challenges in the region, the chemicals company said on Monday, sending its shares down 2.5% in morning trade.

Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures. United AirlinesUAL reported mixed results late Wednesday. NvidiaNVDA chipmaker Taiwan SemiconductorTSM headline earnings early Thursday with NetflixNFLX due after the close.