04:05 PM EDT, 10/15/2025 (MT Newswires) -- US equity indexes traded mixed ahead of the close on Wednesday as investors weighed strong quarterly results and a dovish policy signal from the Federal Reserve alongside China trade tensions.

The Nasdaq Composite climbed 0.7% to 22,683.1, with the S&P 500 up 0.5% to 6,674.2, but the Dow Jones Industrial Average was little changed at 46,251.5. Real estate, communication services, and utilities were among the top gainers intraday. Industrials led the decliners.

Morgan Stanley ( MS ) shares jumped 4.4%, among the top gainers on the S&P 500, after the company reported Q3 earnings and revenue above market expectations. Bank of America ( BAC ) also reported higher Q3 earnings and revenue, beating consensus estimates. Its shares advanced 4.4%, also among the outperformers in the S&P 500.

ASML Holding (ASML), one of the biggest semiconductor manufacturers in the world, rose 1.8% after the company reported higher fiscal Q3 earnings and net sales.

All but one Magnificent-7 stocks rose, led by Alphabet (GOOG, GOOGL). Alphabet's Google ( GOOG ) subsidiary, Waymo, announced on Wednesday that it is launching autonomous ride-hailing services in London next year.

President Donald Trump is still expected to meet his Chinese counterpart, Xi Jinping, on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea at the end of October, according to media reports, keeping hopes alive that the recent escalation of tensions between the world's two largest economies will not result in a long-lasting trade war.

On Wednesday, Fed Governor Stephen Miran advocated for an additional 1.25 percentage points in rate cuts, on top of the quarter-point reduction in September, arguing that current policy is "quite restrictive" and leaves the economy vulnerable to shocks, CNBC reported.

Federal Reserve Chair Jerome Powell said on Tuesday the unemployment rate remained low through August, but payroll gains have slowed sharply, setting the stage for rate cuts. "In this less dynamic and somewhat softer labor market, the downside risks to employment appear to have risen."