The S&P 500 was 0.4 per cent higher in afternoon trading, sitting above its all-time high set two weeks ago. The Dow Jones was up 0.3 per cent in late trade and the Nasdaq composite was adding 0.7 per cent to its record set a day earlier. The Australian sharemarket is set to advance, with futures at 4.55am AEST pointing to a gain of 10 points, or 0.1 per cent, at the open. The ASXTesla jumped 9.
The hope on Wall Street is that inflation will slow enough to get the Fed to pull down its main interest rate, which has been sitting at its highest level in more than two decades and pressing the brakes on the economy. Treasury yields have been easing since April on strengthening hopes for just that.
The 10-year yield is still well above its 4.29 per cent level from late on Thursday, before the debate.
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