Morning Report 7 Jul 22: US sharemarkets were firmer on Wednesday

Investors became more confident about the Fed's inflation-fighting resolve. Shares in Rivian Automotive rose 10.4% after the electric vehicle maker confirmed production guidance. The Dow Jones index rose by 70 points or 0.2%. The S&P 500 index rose by 0.4% and the Nasdaq index was up by 40 points or 0.4%.

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