Evening Market Recap - Wednesday, 10-Jul

US equities finished higher in Wednesday trading, ending near session highs, with the Dow Jones, S&P500, and Nasdaq closing up 109bps, 102 bps, and 118bps respectively. Chair Powell's second day of congressional testimony noted recent improvements in the data but hopes for increased confidence in the disinflationary path. Today's $39B auction of 10Y notes stopped through, with solid bid-to-cover and strong demand from directs. Street expecting tomorrow’s June core CPI to increase 0.2% m/m in June, which would leave the y/y rate at 3.4%.