The S&P 500 rose on Thursday, gaining 0.26% to close at a fresh record of 7,041.28, as optimism around a potential end to the Iran war continued to support equities.
The Polygon-based (CRYPTO: POL) Polymarket crowd remains bullish heading into Friday. The April 17 market shows a majority of traders betting “Up,” with early trading activity building on whether the S&P 500 will open higher or lower.
Why That Number Matters
President Donald Trump said Thursday that the war in Iran “should be ending pretty soon,” adding to a series of comments this week suggesting negotiations are progressing. He also announced that Israel and Lebanon have agreed to a 10-day ceasefire, a development seen as a step toward broader de-escalation in the region, and that the next round of in-person talks may occur “probably, maybe, next weekend.”
The optimism has helped push equities to fresh highs, with the S&P 500 now trading above 7,000 for the first time after fully recovering losses tied to the war earlier this year.
The Bull Case
The major indexes are on track to end the week higher, with the S&P 500 up more than 3% week-to-date and the Nasdaq Composite posting a double-digit winning streak. S&P 500 futures are up 0.13% in early trading.
Investors will also watch earnings from financial firms, including State Street (NYSE:STT) and Fifth Third Bancorp (NYSE:FITB).
How The Previous Bet Played Out: The S&P 500 opened Thursday at 7,037.78, above the prior close of 7,022.95, as continued optimism around negotiations supported premarket sentiment. The April 16 Polymarket bet resolved “Up,” on $98,506 in traded volumes.
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