Major U.S. indices opened lower on Wednesday as the market evaluated the latest round of corporate earnings and economic data. Investor sentiment was primarily driven by quarterly results from banking giants Bank of America and Citigroup, which served as key indicators for the health of the financial sector. Economic indicators released earlier in the session, including retail sales figures and the Producer Price Index (PPI), failed to provide a clear catalyst for a market rally. The data offered little evidence to shift current market forecasts regarding the timing and scale of Federal Reserve interest-rate cuts anticipated later this year. Equity markets remain in a period of consolidation as participants weigh stable consumer spending against persistent inflationary pressures in the production chain. This cautious outlook persists as the earnings season continues to unfold across the broader banking industry.