The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the “Extreme Fear” zone on Tuesday.
U.S. stocks settled higher on Tuesday, with the Dow Jones index jumping more than 400 points during the session.
On the economic data front, U.S. producer prices rose 0.1% month-over-month in July compared to a 0.2% increase in June and versus market expectations of 0.2%.
Shares of Paysafe Ltd PSFE jumped more than 6% on Tuesday after the company reported its second-quarter financial results. Starbucks Corporation SBUX shares jumped 24.5% after the company announced that Chipotle CEO and Chairman Brian Niccol has been named as Starbucks’ new Chairman and Chief Executive Officer, effective Sept. 9. The Home Depot, Inc. HD reported mixed results for its second quarter on Tuesday.
Most sectors on the S&P 500 closed on a positive note, with communication services, information technology, and consumer discretionary stocks recording the biggest gains on Tuesday. However, energy stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 409 points to 39,765.64 on Tuesday. The S&P 500 rose 1.68% to 5,434.43, while the Nasdaq Composite jumped 2.43% at 17,187.61 during Tuesday’s session.
Investors are awaiting earnings results from Brinker International, Inc. EAT, Cisco Systems, Inc. CSCO, and Cardinal Health, Inc. CAH today.
What is CNN Business Fear & Greed Index?
At a current reading of 24.6, the index remained in the “Extreme Fear” zone on Tuesday, versus a prior reading of 21.9.
The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next:
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
