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LinkedIn.com slash lead. Terms and conditions apply. Here's your closing bell brief for Tuesday, July 15th. I'm Danny Lewis for the Wall Street Journal.

U.S. stock indexes ended the day mixed amid fresh trade negotiations and the start of the search

for the next head of the Federal Reserve. The Dow Jones Industrial Average lost 436 points,

about a percent to close at 44,023. The S&P lost 25 points, and the NASDAQ gained almost 38 points.

Treasury Secretary Scott Bessent says the formal process to find the next head of the Federal Reserve is underway, as current Fed Chair Jerome Powell's term ends next May.

He also suggested that Powell

should step down from the central bank's board after his term is up. On an earnings call,

J.P. Morgan Chase CEO Jamie Diamond said preserving the Federal Reserve's independence is crucial

to its credibility and to the economy. Elsewhere, June's Consumer price index showed annual inflation rising to 2.7%

in line with economists' expectations. In trade news, President Trump announced a new deal with

Indonesia. The U.S. will charge a 19% import duty on Indonesian goods, while U.S. exports to the Asian

nation will not be subject to

tariffs. Among individual companies, shares in some major banks fell despite posting better than

expected second quarter earnings today, as soft forecasts for the rest of the year weighed on

financial stocks. J.P. Morgan Chase's shares fell 0.7%, Wells Fargo fell about 5.5%. And asset manager BlackRock

fell 5.9%. But Citigroup shares gained 3.7%. Nvidia shares rose 4% after the White House assured

...