The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the “Neutral” zone on Friday.
U.S. stocks settled higher on Friday, with the Dow Jones index gaining around 150 points during the session.
Tech stocks recorded gains, with Nvidia Corp. (NASDAQ:NVDA) gaining around 4%, while Meta Platforms Inc. (NASDAQ:META) surged about 6%.
The S&P 500 gained over 1% last week, while the Nasdaq also rose more than 1%. However, the Dow declined 0.5% during the week.
SK Hynix Inc. (NASDAQ:SKHYV) stock surged around 13% on Friday as the South Korean giant made its US debut, raising over $26 billion.
Most sectors on the S&P 500 closed on a positive note, with materials, consumer staples and communication services stocks recording the biggest gains on Friday. However, health care stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 150 points to 52,637.01 on Friday. The S&P 500 surged 0.42% to 7,575.39, while the Nasdaq Composite gained 0.29% to 26,281.61 during Friday’s session.
Investors are awaiting earnings results from FB Financial Corp. (NYSE:FBK) and LogProstyle Inc. (NYSE:LGPS) today.
What Is CNN Business Fear & Greed Index?
At a current reading of 49.5, the index remained in the “Neutral” zone on Friday, versus a prior reading of 46.1.
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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