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.

June’s flat PPI signals easing wholesale inflation as rising goods prices are offset by cooling service costs.

Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances.

Wall Street braced for another inflation checkup after Tuesday's consumer price reading spurred traders to pare bets on Fed rate cuts in the coming months.