Here's your summary from Asia Rises as S&P 500 Closes Above 500 | Bloomberg: The Asia Trade 7/03/2024 (https://www.youtube.com/watch?v=LdBdyvJEp-A) on the Bloomberg Television channel:

### TLDR:

The video discusses the S&P 500 closing above 5500 for the first time, Fed Chair Jay Powell's comments on the economy, and China's potential support for Russia.

### Key Points:

1. S&P 500 closes above 5500 for the first time in history.

2. Fed Chair Jay Powell suggests the economy is back on a disinflationary path.

3. China may be deepening its support for Russia despite U.S. warnings.

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