The S&P 500 rose 1.01% on Monday to close at 6,699.38, snapping a four-day losing streak as oil prices pulled back after Treasury Secretary Scott Bessent said the U.S. is allowing Iranian oil tankers to pass through the Strait of Hormuz, and a Wall Street Journal report said a coalition to escort ships through the strait was imminent. By early Tuesday, futures had turned red.
The Polygon-based (CRYPTO: POL) Polymarket crowd is bearish heading into Tuesday, with the “S&P 500 Opens Up or Down on March 17?” market at 24% “Up” and 76% “Down” in early trading.
Why That Number Matters
Monday’s rally was qualified from the start. President Donald Trump, speaking to reporters midday, signaled the tanker escort coalition isn’t finalized yet and encouraged other countries to get involved. Oil came off its session lows on his comments, but stayed …
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