The S&P 500 posted its third straight losing session on Tuesday as surging Treasury yields pressured equities, but Polymarket traders are betting the benchmark index will rebound at Wednesday's open ahead of Nvidia's (NASDAQ:NVDA) closely watched earnings report.
The S&P 500 fell 0.67% to close at 7,353.61 on Tuesday. However, the May 20 Polymarket contract implied a 71% probability that the index would open higher on Wednesday.
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Why That Number Matters
Markets are increasingly focused on rising bond yields after a series of economic reports suggested inflation may be reaccelerating.
