The S&P 500 fell 0.49% on Tuesday to close at 7,138.80, drawing back from record highs as financiers took earnings ahead of an essential day for megacap incomes and the Federal Reserve’s rate choice.
The Polygon– based (CRYPTO: POL) Polymarket crowd is leaning bullish heading into Wednesday, with the April 29 market revealing 61% chances of an “Up” open for the benchmark index.
Why That Number Matters
Wednesday might check whether the current rally has more space to run.
The other significant driver is the Federal Reserve’s policy choice later on Wednesday, likely the last under Chair Jerome Powell, with markets broadly anticipating rates to stay the same.
Oil costs likewise moved greater once again, keeping geopolitical threats around the Strait of Hormuz in focus.
The Bull Case
Futures were the same in early trading, with S&P 500 futures down 0.01%, recommending financiers might be placing for surprises from incomes or an encouraging Fed message.
How The Previous Bet Played Out: The S&P 500 opened Tuesday at 7,133.74, listed below the previous close of 7,173.91, suggesting the April 28 Polymarket wager dealt with “Down,” with traders properly calling a weaker open on approximately $70,000 in traded volume.
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