Stocks
S&P 500 Snaps Winning Streak Amid Optimism on Corporate Earnings
The S&P 500 index closed at 7,723.55 on Wednesday after a modest decline of 0.17%, snapping a four-session winning streak.
The decline came despite the Dow Jones Industrial Average reaching another record high, and Polymarket traders continue to expect the benchmark index to rebound at Thursday's open.
August 6 Polymarket contract implied a 69% probability that the index will open higher on Thursday, with roughly $50,500 in trading volume attracted to the latest contract.
Investors remain optimistic about resilient corporate earnings and easing geopolitical risks, with Nvidia (NASDAQ:NVDA) gaining over 3% after Elon Musk's comments about SpaceX (NASDAQ:SPCX) plans to use Nvidia processors for its AI infrastructure.