The S&P 500 climbed for a second straight session on Wednesday as fresh signs of easing inflation and upbeat corporate earnings supported equities.

However, Polymarket traders are growing more cautious about Thursday's open.

The S&P 500 gained 0.38% to close at 7,572.40.

However, the July 16 Polymarket contract implied just a 37% probability that the index would open higher on Thursday, with odds steadily declining throughout Wednesday's trading.

Why That Number Matters Another encouraging inflation report reinforced hopes that price pressures are gradually easing.