Jim Cramer's top 10 things to watch in the stock market Wednesday

ASML's strong quarterly performance is a positive indicator for the semiconductor industry, which has been a key driver of growth in the global economy. The company's blowout quarter suggests that demand for its lithography systems, used in the production of advanced semiconductors, remains robust. This is significant for lenders with exposure to the tech sector, as it may indicate a lower risk of defaults from borrowers in this space.

The softer-than-expected June wholesale inflation report is also a welcome development, as it may take some pressure off the Federal Reserve to raise interest rates aggressively. A more moderate inflation environment could lead to more stable borrowing costs, which is good news for lenders and borrowers alike. However, it's worth noting that the Fed is still likely to raise rates further this year, which could impact lending activity and credit markets.

Looking ahead, lenders should keep a close eye on the upcoming earnings reports from major banks, which will provide further insight into the health of the financial system. Additionally, the July consumer inflation report, due out next week, will be closely watched for signs of whether the moderation in wholesale inflation is translating to lower prices for consumers. If inflation remains under control, it could support a more stable lending environment, but if prices start to rise again, it could lead to increased borrowing costs and tighter credit conditions.

Originally reported by cnbc.com. LendingNews adds analysis for finance & markets readers.