Benzinga - by Lisa Levin, Benzinga Editor.
The CNN Money Fear and Greed index remained in the "Fear" zone on Monday.
U.S. stocks closed slightly higher on Monday, with the Nasdaq Composite recording gains for seven days for the first time since January.
Last week, the Dow Jones recorded its biggest weekly gain since Oct. 2022, while the S&P notched its best week since Nov. 2022. Last week, the U.S. Federal Reserve kept rates unchanged for a second consecutive meeting.
Yields also moved higher, with the 10-year Treasury yield gaining to 4.653% on Monday.
Kosmos Energy Ltd (NYSE: KOS) reported better-than-expected earnings for its third quarter on Monday. DISH Network Corp (NASDAQ: DISH) reported third-quarter revenue of $3.70 billion, missing the consensus of $3.72 billion.
Most sectors on the S&P 500 closed on a negative note, with real estate and energy stocks recording the biggest losses on Monday. However, information technology and health care stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 35 points to 34,095.86 on Monday. The S&P 500 rose 0.18% at 4,365.98, while the Nasdaq Composite gained 0.30% at 13,518.78 during Monday’s session.
Investors are awaiting earnings results from D.R. Horton, Inc. (NYSE: DHI), Uber Technologies, Inc. (NYSE: UBER) and eBay Inc. (NASDAQ: EBAY) today.
At a current reading of 41.3, the index remained in the "Fear" zone on Monday.
What is CNN Business Fear & Greed Index?
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.
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