05:02 PM EDT, 07/15/2025 (MT Newswires) -- US equities finished mixed Tuesday following inflation data and bank earnings reports, while Nvidia's ( NVDA ) gain helped boost the tech-heavy Nasdaq Composite to a new record level.

The Dow Jones Industrial Average fell 1% to 44,023.3, while the S&P 500 fell 0.4% to 6,243.8. The Nasdaq rose 0.2% to 20,677.8, notching a fresh all-time high. Barring technology, all sectors ended in the red, led by a 2.1% drop in materials.

In economic news, US consumer inflation accelerated last month at the fastest pace since January, with analysts saying there were signs of tariffs driving prices higher.

"The details show that there was some scattered evidence of early tariff impacts on some goods components -- mainly fresh fruit and vegetables, household appliance, toys, clothing and sporting goods, but this was offset to a large extent by softness in the all-important shelter component," ING Bank said in a note.

The impact of tariffs is expected to trickle down through the summer, but the extent of any passthrough remains uncertain, TD Economics said. This uncertainty means the Federal Reserve will likely remain on the sidelines for "at least another few months," TD said.

"Stronger inflation prints ahead and a relatively low unemployment rate the rest of the year will delay cuts until 2026," Morgan Stanley said in a note.

The official US producer prices report for June is scheduled to be released Wednesday.

US Treasury yields were higher, with the 10-year rate adding 4.9 basis points to 4.49% and the two-year rate increasing four basis points to 3.96%.

In company news, Wells Fargo ( WFC ) lowered its full-year net interest income outlook despite reporting second-quarter results above market expectations. The company's shares slumped 5.5%, among the worst performers on the S&P 500.

JPMorgan Chase ( JPM ) reported better-than-expected second-quarter results as investment banking activity gained momentum, though Chief Executive Jamie Dimon said that the US economy still faces substantial risks. JPMorgan ( JPM ) shares dipped 0.7%.

Citigroup's ( C ) shares climbed 3.7%, among the best S&P 500 performers, as its second-quarter results surpassed Wall Street's expectations, buoyed by trading gains and revenue growth in investment banking.

BlackRock ( BLK ) saw one of the steepest declines on the S&P 500, down 5.9%, following a second-quarter revenue miss.

Nvidia ( NVDA ) shares jumped 4%, the top performer on the Dow and among the best on the S&P 500. The chipmaking giant said Monday that it is filing applications to resume selling H20 graphics processing units in China and that it has received assurance from the US government that licenses will be granted.

"Loosening export restrictions provide upside (and) duration to (Nvidia's ( NVDA )) current growth cycle," Truist analyst William Stein said in a Tuesday note to clients, adding that the company is now expected to see higher sales than previously projected.

CoreWeave ( CRWV ) shares jumped 6.2% as the artificial intelligence cloud computing firm said it plans to invest more than $6 billion in a new data center in Lancaster, Pennsylvania, amid growing demand for AI infrastructure.

West Texas Intermediate crude oil was down 0.5% at $66.66 a barrel in Tuesday late-afternoon trade.

The Organization of the Petroleum Exporting Countries maintained its global oil demand and economic growth projections for 2025 and 2026.

"Continued robust global economic growth is expected, following the solid growth seen in (the first half of 2025), despite ongoing US-centered trade challenges and geopolitical uncertainties," the cartel said in its latest monthly report. "Supported by the past months' developments, the forecast anticipates that reasonable trade agreements are reached with most key US trading partners, and global economic uncertainty is likely to ease further."

President Donald Trump said Tuesday that the US will charge Indonesia a 19% tariff rate under a trade deal, Bloomberg News reported.

On Monday, Trump reportedly said the US will levy "very severe tariffs" on Russia in the absence of a deal in 50 days. In social media posts Saturday, Trump revealed plans to impose 30% tariffs on the European Union and Mexico, effective Aug. 1.

Gold was down 0.7% at $3,335.9 per troy ounce, while silver lost 1.8% to $38.05 per ounce.