Stocks Mostly Down Pre-Bell as Traders Await Producer Prices Data, More Bank Earnings

07:25 AM EDT, 07/16/2025 (MT Newswires) -- The main US stock measures were mostly trending downwards in Wednesday's premarket activity, as investors await last month's report on producer prices and more bank earnings.

The S&P 500 edged down 0.1% and the Nasdaq was off 0.3% before the opening bell, while the Dow Jones Industrial Average was slightly in the green. The S&P 500 and the Dow finished Tuesday's trading session lower, while the Nasdaq reached a fresh all-time high.

June's producer price index report, a measure of wholesale prices, is scheduled to be released at 8:30 am ET. The data comes a day after the Bureau of Labor Statistics reported consumer inflation in the world's largest economy accelerated last month at the fastest pace since January, with analysts saying there were signs pointing to tariffs driving prices higher.

"The details show that there was some scattered evidence of early tariff impacts on some goods components -- mainly fresh fruit and vegetables, household appliance, toys, clothing and sporting goods, but this was offset to a large extent by softness in the all-important shelter component," ING Bank said in a Tuesday note.

US Treasury yields were down before the open, with the two-year rate retreating 1.1 basis points to 3.95%, while the 10-year rate declined by 1 basis point to 4.48%.

US President Donald Trump repeated his call to the Federal Reserve to lower interest rates in a social media post on Tuesday after the inflation report was released. Trump said inflation is "very low" and the Fed should cut rates by 3 (percentage) points in a separate post on Truth Social.

Trump also announced on Tuesday that Indonesia has agreed to pay tariffs of 19% on all the goods it exports to the US.

"We will pay no tariffs. So they are giving us access into Indonesia, which we never had," Trump told reporters outside the White House, CNBC reported.

Earlier in the week, Trump reportedly said the US will impose "very severe tariffs" on Russia in the absence of a deal in 50 days. In social media posts Saturday, Trump revealed plans to impose 30% tariffs on the European Union and Mexico, effective Aug. 1.

Wednesday's economic calendar also has the weekly mortgage applications bulletin, the industrial production report for June, the weekly EIA domestic petroleum inventories report, and the Beige Book, a compilation of economic and business reports from the 12 regional Fed branches.

Fed Governor Michael Barr is scheduled to speak at 10 am, while traders will also be looking forward to remarks from Richmond Fed President Thomas Barkin, Cleveland Fed President Beth Hammack and New York Fed President John Williams.

Johnson & Johnson (JNJ) , Bank of America (BAC) , Morgan Stanley (MS) , Goldman Sachs (GS) , Progressive (PGR), Prologis (PLD) and M&T Bank (MTB) are expected to release their latest financial statements before the bell, among others. Kinder Morgan (KMI) and United Airlines (UAL) post earnings after the markets close.

ASML Holding's (ASML) US-listed stock dropped 7.9% pre-bell following the Dutch chip equipment maker's quarterly results. MP Materials (MP) added 3.4% after closing Tuesday up 20%. J.B. Hunt Transport Services (JBHT) decreased 1.1% after the transportation and logistics company's second-quarter earnings and operating income declined on a yearly basis, impacted by inflationary cost pressures across its business.

West Texas Intermediate crude oil slipped 0.2% to $66.38 a barrel in premarket action. The Organization of the Petroleum Exporting Countries on Tuesday maintained its global oil demand and economic growth projections for 2025 and 2026 while saying world expansion in the second half of this year could prove to be better than expected.

Gold gained 0.3% to $3,347 per troy ounce, while bitcoin increased 1.9% to $118,883.

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