Stocks were taken on a wild ride Wednesday as a White House official indicated to CNBC that Trump was moving closer to firing Powell from his post as Fed Chair.

Wall Street's main indexes opened higher on Wednesday as investors sifted through new inflation data and digested a fresh round of heavyweight earnings reports. At 9:30 a.m. ET, the Dow Jones Industrial Average rose 156.

Dow futures mixed as Wall Street eyes bank earnings, inflation data, and tariff risks in a cautious trading session.

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.

US stocks recovered from session lows to end Wednesday's trading session higher after President Trump said he's "not planning" to fire Fed Chair Jerome Powell despite new reports emerging suggesting he was close to making that decision.

(Reuters) - The S&P 500 and the Dow were on track for a modestly higher start on Wednesday as investors sifted through new inflation data and digested a fresh round of heavyweight earnings reports. U.S. producer prices held steady in June, defying expectations as higher costs for tariff-hit goods were offset by a slump in services.

U.S. stock futures on Wednesday were pointing lower with more inflation data and bank earnings set to come. Dow futures rose 6 points, or factionally, to 44251. S&P 500 futures dropped 7 points, or 0.

US stocks hold steady as traders downplay tariff threats and await key earnings and CPI data, with tech and energy sectors showing early weakness.