Wells Fargo ( WFC ), meanwhile, reported revenue that fell short of Wall Street expectations with earnings that beat views compiled by Capital IQ. US equity benchmarks were in positive territory on Friday afternoon as weaker-than-expected economic results fueled expectations that the Federal Reserve will now be less likely to implement a third interest rate hike this year. In economic news, the Consumer Price Index ( CPI ) was unchanged in June, according to data released by the Bureau of Labor Statistics, falling short of the 0.2% gain that had been expected by economists.