The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the “Fear” zone on Monday.
U.S. stocks settled mixed on Monday, with the S&P 500 recording losses amid declines in tech stocks.
Space Exploration Technologies Corp. (NASDAQ:SPCX) fell more than 16% on Monday, recording its third consecutive daily decline. Micron Technology Inc. (NASDAQ:MU) shares gained almost 7% ahead of the chipmaker’s quarterly report on Wednesday.
U.S.-Iran talks over the Strait of Hormuz sent oil prices sliding, amid lingering bets that a hawkish Federal Reserve could still raise interest rates this year.
Most sectors on the S&P 500 closed on a positive note, with energy, real estate and health care stocks recording the biggest gains on Monday. However, consumer discretionary and communication services stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 148 points to 51,712.71 on Monday. The S&P 500 fell 0.37% to 7,472.79, while the Nasdaq Composite dipped 1.32% at 26,166.60 during Monday’s session.
Stocks recorded gains last week, with the S&P 500 rising 0.9%, recording its 11th winning week in 12. The Dow gained 0.7%, while Nasdaq surged 2.4% during the period.
Investors are awaiting earnings results from Carnival Corp. Ltd. (NYSE:CCL), Korn Ferry (NYSE:KFY) and FedEx Corp. (NYSE:FDX) today.
What is CNN Business Fear & Greed Index?
At a current reading of 34.7, the index remained in the “Fear” zone on Monday, versus a prior reading of 31.6.
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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