US stocks rose on Wednesday, as investors weighed earnings releases from big banks and digested the latest wholesale inflation report.

The Dow Jones Industrial Average traded 150 points higher, or 0.4%. The S&P 500 gained 0.3% along with the Nasdaq Composite

ASML, the world's biggest supplier of computer chip-making equipment, on Wednesday warned that it may not achieve growth in 2026, even after its second quarter bookings beat market expectations.

Analysts had hoped that the quarter would provide some reassurance over its outlook for 2026. However, the company warned that geopolitical uncertainty continued to cloud its prospects.

US-listed shares of ASML sank more than 8% in morning trading.