Investor Sentiment Falls Further; Fear & Greed Index In 'Greed' Zone
Benzinga
Published Feb 21, 2024 08:46
Updated Feb 21, 2024 10:10
Investor Sentiment Falls Further; Fear & Greed Index In 'Greed' Zone
Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the "Greed" zone on Tuesday.
U.S. stocks closed lower on Tuesday, with the Nasdaq falling more than 100 points during the session. All three major indices recorded losses last week, ending their five-week winning streaks.
On the economic data front, the Conference Board's Leading Economic Index fell 0.4% for January versus market expectations for a 0.3% decline.
Capital One Financial Corp (NYSE: COF) announced its plans to purchase Discover Financial Services (NYSE: DFS), marking a pivotal $35.3 billion all-stock transaction. Walmart Inc. (NYSE: AMT) shares gained over 3% on Tuesday after the company reported better-than-expected fourth-quarter financial results.
Most sectors on the S&P 500 closed on a negative note, with consumer discretionary, energy and information technology stocks recording the biggest losses on Tuesday. However, consumer staples stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 64 points to 38,563.80 on Tuesday. The S&P 500 fell 0.60% at 4,975.51, while the Nasdaq Composite fell 0.92% at 15,630.78 during Tuesday’s session.
Investors are awaiting earnings results from Exelon Corporation (NASDAQ: EXC), Exelon Corporation (NASDAQ: ADI), Exelon Corporation (NASDAQ: NVDA) and Rivian Automotive, Inc. (NASDAQ: RIVN) today.
At a current reading of 67.3, the index remained in the "Greed" zone on Tuesday, versus a prior reading of 69.2.
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.
Read Next: Beasley Broadcast And 2 Other Stocks Under $3 Insiders Are Buying
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read the original article on Benzinga
Get The App
Written By: Benzinga
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.