US stock indices closed mixed on Wednesday as the S&P 500 (+0.4%) and the Dow (+150) benefited from soft inflation data, while the Nasdaq 100 shed 0.3% amid a selloff in chipmakers. Both headline and core producer prices rose less than expected in June, reinforcing the soft CPI report released a day earlier and further reducing the likelihood of a Fed rate hike at its upcoming meeting. The data helped offset concerns over higher energy prices stemming from the escalating conflict between the US and Iran. Morgan Stanley gained 0.2% after posting upbeat results, joining JPMorgan (+1.1%) and Goldman Sachs (+1.1%) in delivering strong earnings. BlackRock surged 6.6% following its results, while J&J (-2.7%) fell after reporting earnings. Meanwhile, hyperscalers rallied, with Microsoft (+2.8%), Amazon (+3%), and Alphabet (+3.2%) advancing after strong results from ASML (+2.3%). On the other hand, losses among heavyweight memory chipmakers and SpaceX (-0.6%) weighed on the Nasdaq.