FX.co ★ US Stocks Trade Mixed

On Wednesday, US stocks experienced fluctuations as markets digested fresh economic data alongside tariff threats, amid varied reports about President Trump's potential influence over the Federal Reserve Chair, Jerome Powell's tenure. While the S&P 500 remained stable, the Dow Jones Industrial Average advanced by 50 points, and the Nasdaq 100 dipped by 0.2%. The stock market had initially fallen on rumors of Powell's dismissal by White House officials but regained ground after Trump indicated such a move was improbable. In parallel, producer prices remained flat in June, contrary to predictions of a slight uptick, primarily due to a reduction in service costs. Bank of America saw a 1.5% decline following lower-than-anticipated revenue reports. Conversely, Goldman Sachs remained stable after posting significant profit growth; however, Morgan Stanley's shares fell by 3%, despite exceeding second-quarter earnings expectations. In other developments, Johnson & Johnson's stock rose by 6% following better-than-expected earnings and an upward revision of its annual forecast.