US equities rose for a third consecutive day following more dovish comments from Fed officials pushing bond yields sharply lower. The Dow Jones ended up 135 points (+0.4%). The Dow traded higher all day, up 294 points at best. Meanwhile, the S&P 500 approached 4,400 but fell short, up 0.52%, and the NASDAQ gained 0.58%. US treasuries tumbled, with the 10Y yield down 14.6bps and the 2Y down 12.6bps, along with the US dollar, with the USD Index falling 0.29% as risk appetite improved. On the corporate front, US earnings season has commenced with PepsiCo (+1.9%), surpassing revenue and earnings expectations. Among stocks, Amazon rose 1% at the beginning of its Prime Day Sale, and Rivian advanced 4.6% on broker upgrades.

ASX to open higher. SPI Futures up 30 points (+0.42%).

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