The S&P 500 rose 0.5 per cent to set an all-time high for a second straight day and for the 33rd time this year. The Dow Jones slipped 0.1 per cent, while the Nasdaq composite added 0.9 per cent to its record set the day before. Trading ended early for the day ahead of the Fourth of July holiday.The Australian sharemarket is set to jump, with futures at 4.56am AEST pointing to a gain of 74 points, or 1 per cent, at the open. The ASXTesla again helped boost the market and rose 6.
The hope on Wall Street is that the economy will soften by just the right amount: enough to keep a lid on upward pressure on inflation, but not so much that it throws workers out of their jobs and triggers a recession. A much more anticipated report will arrive on Friday, when the US government will give its comprehensive update about how many workers employers added to their payrolls during June.The yield on the 10-year Treasury dropped to 4.35 per cent from 4.
On Wall Street, Constellation Brands sank 3.3 per cent after swinging between gains and losses during the day. The company behind Modelo beer and Robert Mondavi wines reported stronger profit for the latest quarter than expected, but its revenue came up just shy of financial analysts’ forecasts.
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