NEW YORK, Jan. 14 (Xinhua) -- U.S. stocks closed lower on Wednesday as market participants analyzed a heavy influx of bank earnings alongside fresh data on wholesale inflation and consumer spending.
The Dow Jones Industrial Average edged down 42.36 points, or 0.09 percent, to 49,149.63. The S&P 500 declined 37.14 points, or 0.53 percent, to 6,926.6, and the tech-heavy Nasdaq Composite Index shed 238.12 points, or 1 percent, to end at 23,471.75.
Performance among the 11 primary S&P 500 sectors was split, with six ending higher. Energy and consumer staples led the gainers, advancing 2.26 percent and 1.18 percent, respectively. In contrast, the consumer discretionary and technology sectors were the primary laggards, falling 1.75 percent and 1.45 percent.
The financial sector remained under pressure as major banks continued to release operating results for the fourth quarter of 2025.
Wells Fargo tumbled 4.61 percent after the lender reported profit and revenue that missed analyst estimates. Bank of America fell 3.78 percent despite beating profit expectations, as investors expressed concern over rising projected expenses. Citigroup also saw its shares decline by 3.34 percent following its earnings release.
Economic data provided a mixed picture for the U.S. economy.
The Bureau of Labor Statistics reported that the producer price index for November, which is delayed by the recent federal government shutdown, rose 0.2 percent from September, slightly below the 0.3 percent forecast.
Conversely, retail sales for November grew by 0.6 percent, exceeding expectations of a 0.4 percent increase, signaling resilient consumer demand.
Media and entertainment stocks also saw movement amid a high-stakes bidding war for Warner Bros. Discovery (WBD).
Netflix slipped 1.96 percent amid reports that its 72 billion U.S. dollar bid for WBD's HBO Max and studios may shift to an all-cash structure. Paramount Skydance, which has launched a rival 77.9 billion dollar hostile all-cash offer for WBD, saw its shares dip 0.49 percent.
In the bond market, the 10-year U.S. Treasury yield fell to 4.14 percent by the close of trading, down from Tuesday's level of 4.18 percent.
