Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The CNN Money Fear and Greed index remained in the "Greed" zone on Monday.
U.S. stocks closed mixed on Monday, with the S&P 500 settling lower for the second straight session. All three major indices closed recorded losses last week, with the S&P 500 falling 0.26% and the blue-chip Dow declining 0.93%.
Data on the consumer price index for February will be released on Tuesday. Analysts expect the CPI to increase 3.1% on an annualized basis.
EQT Corporation (NYSE: EQT) announced that it entered into a definitive merger agreement to acquire Equitrans Midstream Corporation (NYSE: ETRN). Shares of Genie Energy Ltd. (NYSE: GNE) fell more than 9% on Monday following fourth-quarter results.
Most sectors on the S&P 500 closed on a negative note, with industrials, consumer discretionary, and real estate stocks recording the biggest losses on Monday. However, materials and energy stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 47 points to 38,769.66 on Monday. The S&P 500 fell 0.11% at 5,117.94, while the Nasdaq Composite fell 0.41% at 16,019.27 during Monday’s session.
Investors are awaiting earnings results from International Game Technology PLC (NYSE: IGT), IHS Holding Limited (NYSE: IHS), and Kohl's Corporation (NYSE: KSS) today.
At a current reading of 66.6, the index remained in the "Greed" zone on Monday, versus a prior reading of 66.6.
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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