Dow Jones Today: S&P 500 Futures Holding Steady Ahead of Inflation Report as Investors Digest Latest Batch of Bank Earnings

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.

Futures tied to the S&P 500 were flat in recent trading, while those linked to the Dow Jones Industrial Average added 0.2% and Nasdaq futures slipped 0.2%. Stocks are coming off a mixed performance on Tuesday, when the tech-heavy Nasdaq Composite inched higher to a record close for the second straight day as chip stocks rallied, while the other two major indexes lost ground amid a downturn in financial services stocks after the first batch of earnings reports from big banks.

Investors are awaiting the release of producer price data, scheduled for 8:30 a.m. ET, after consumer price numbers on Tuesday showed that inflation picked up in June, dashing hopes that the Federal Reserve could be in a position to cut interest rates soon. The Fed has said that it is waiting for more data to assess how tariffs are affecting the economy before adjusting its benchmark rate.

Banks releasing quarterly results this morning were on move in premarket trading. Bank of America (BAC), Goldman Sachs (GS) and PNC Financial Services (PNC) were each up about 1%, while Morgan Stanley (MS) fell 0.5%.

Among other noteworthy post-earnings movers, shares of Dow component Johnson & Johnson (JNJ) were up nearly 2% after the medical device and drug maker reported better-than-expected results and raised its outlook. ASML Holding (ASML) shares tumbled 7% after the Dutch semiconductor-gear manufacturer said it couldn’t guarantee growth in 2026 amid uncertainty about the impact of tariffs.

Shares of the world’s largest technology companies were mixed before the opening bell. Nvidia (NVDA), Apple (AAPL), Alphabet (GOOG), Meta Platforms (META) and Tesla (TSLA) rose slightly, while Microsoft (MSFT), Amazon (AMZN) and Broadcom (AVGO) were each down less than 1%. 

Crypto-related stocks, including major bitcoin buyer Strategy (MSTR) and crypto exchange Coinbase Global (COIN), were moving higher as the price of bitcoin surged after legislators vowed to move cryptocurrency legislation forward. Bitcoin was at $118,900 recently, after dropping below $116,000 during yesterday’s session. Bitcoin has hit a series of records over the past week, rising as high as $123,000 early Monday.

The yield on the 10-year Treasury note, which affects borrowing costs on a wide range of consumer and business loans, was holding steady at 4.49%, its highest level since early June. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was also little changed, at 98.60, hovering near its highest level in a month.

Gold futures were up 0.3% at $3,345 an ounce, while West Texas Intermediate futures, the U.S. crude oil benchmark, slipped 1% to $65.90 per barrel.