Stock market today: Live updates

Stock futures moved lower on Wednesday after the S&P 500 pulled back from record levels seen earlier in the week while traders digested a fresh batch of earnings.

Futures tied to the Dow Jones Industrial Average shed 136 points, or 0.3%. S&P 500 futures were 0.4%, lower, while Nasdaq 100 futures slid 0.5%.

Wells Fargo fell more than 1% on weaker-than-expected revenue. Bank of America ticked 1% higher after its top and bottom lines for the fourth quarter exceeded analyst estimates.

More inflation data is also on the docket. December’s producer price index report will be released before the opening bell, as is the delayed November retail sales report.

Wall Street posted a losing session on Tuesday, led by a nearly 400-point decline in the Dow. Financials were the worst-performing group. Shares of JPMorgan Chase tumbled more than 4% after fourth-quarter investment banking fees appeared to disappoint. Goldman Sachs and Bank of America fell in sympathy.

Trump’s attacks on Federal Reserve Chair Jerome Powell also continued on Tuesday amid growing worries over the central bank’s independence as the Justice Department conducts a criminal investigation into the Fed’s leader.

Stock prices may be starting to reflect the potential impact of Trump’s demands, according to Paul Meeks, head of technology research at Freedom Capital Markets. “This is a hangover from the threat to Fed Chair Powell and bank earnings, which are being hit by companies talking about capping credit rates at 10% … It’s just unnecessary anxiety,” he said.

Meeks, a veteran tech analyst, added that Tuesday’s drawdown will likely bring in “some good buying opportunities” ahead of upcoming announcements from hyperscalers about their 2026 guidance and artificial intelligence capital expenditure plans.