Stock market today: Dow gains, S&P 500, and Nasdaq decline on hot inflation data

Stocks were mixed on Wednesday as investors digested hotter-than-expected inflation data, and bank earnings continued to roll in.The Dow Jones Industrial Average (^DJI) gained 0.2%, the S&P 500 (^GSPC) declined 0.4%, and the Nasdaq Composite (^IXIC) fell 0.7% after stocks staggered lower on Tuesday.September's Consumer Price Index (CPI) rose 3.7% year over year, versus 3.6% expected by economists. Higher gas and energy prices drove inflation higher, with month-over-month prices rising 0.6%, in line with estimates. Stocks attempted to recover from a global chip sell-off, with a rebound in South Korea after KOSPI index (^KS11) declined 12% over the past five days. Chip equipment maker ASML (ASML) on Wednesday posted record third quarter sales and raised its full-year outlook amid strong AI demand. Investors await Taiwan Semiconductor earnings on Thursday (TSM) for further confirmation of the AI boom. Elsewhere, the parade of financial company earnings continued with results from Bank of America (BAC) and Morgan Stanley (MS). Bank of America stock sank 7% as a $1.2 billion regulatory penalty and a slowdown in its Wall Street machine dented lending income. Meanwhile, BlackRock (BLK) shares rose after third quarter earnings beat analyst expectations. The reports follow several investment banking earnings reports on Tuesday, indicating that consumers are holding up despite higher interest rates, among other signals.Brent crude futures (BZ=F), the global benchmark, remained above $105 per barrel as Houthis continued to bomb Saudi Arabian energy facilities.