Wall Street digested a surprisingly cool wholesale inflation reading and more big bank earnings, with one eye on Trump's latest tariff moves.

American companies in China are reporting record-low new investment plans for this year and declining confidence in profits, while uncertainty in U.S.-China relations and President Donald Trump’s

While the inflation numbers aren't "as bad as expected," they suggest that President Donald Trump's import tariffs are "starting to bite," Heather Long, the chief economist at Navy Federal Credit Union, told CNN. "A long stretch when Trump's policies left little imprint on the hard data appears to be ending," said The Wall Street Journal.

U.S. businesses told the Federal Reserve in June and early July that the loss of immigrant labor is adding to their struggles with the effects of fast-changing trade policies as the Trump administration's economic strategies began gaining traction.

US stocks end mixed after June inflation data and mixed earnings pressured the Dow and S&P 500. Nvidia powers Nasdaq to record high.

President Donald Trump said he would send letters to more than 150 countries notifying them of tariff rates as he pushes ahead with a trade agenda that has sent US partners racing to avoid higher import taxes.