Stock Market: Will S&P 500 Open Up or Down Today?
Key takeaways
- The S&P 500's record close on Tuesday reflects the market's confidence in corporate America's strength, driven by strong earnings and easing geopolitical tensions.
- The S&P 500 surged 1.79% to close at 7,736.52 on Tuesday.
- More than 84% of S&P 500 companies reporting second-quarter results have beaten analysts' earnings expectations so far, according to FactSet data.
- Polymarket traders are now overwhelmingly betting the benchmark will extend those gains at Wednesday's open, with a 87% probability that the index will open higher.
What happened
The S&P 500 surged to a fresh record close on Tuesday, driven by strong corporate earnings, easing oil prices, and optimism over a potential breakthrough between the U.S. and Iran.
Why it matters
Tuesday's rally pushed the S&P 500 above the 7,700 level for the first time ever, with both the benchmark index and the Dow Jones Industrial Average notching fresh record closes. This marks a significant milestone for the market, reflecting the strength of corporate America.
Short-term and longer-term
Short-term. The rally was fueled by strong corporate earnings, easing oil prices, and optimism over a potential breakthrough between the U.S.
Longer-term. The rally reflects the market's confidence in corporate America's strength, driven by strong earnings and easing geopolitical tensions.