The CNN Money Fear and Greed index showed some easing in the overall fear level, with the index remaining in the “Fear” zone on Monday.
U.S. stocks closed mixed on Monday, ahead of the release of key inflation data. Treasury yields were mostly flat during Monday’s session.
Tyson Foods, Inc. TSN posted better-than-expected earnings for its fourth quarter. Henry Schein HSIC shares gained over 5% on Monday after the company reported third-quarter results and issued FY23 guidance.
Most sectors on the S&P 500 closed on a negative note, with utilities and real estate stocks recording the biggest losses on Monday. However, energy and healthcare stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 55 points to 34,337.87 on Monday. The S&P 500 fell 0.08% at 4,411.55, while the Nasdaq Composite fell 0.22% at 13,767.74 during Monday’s session.
Last week, the Dow gained about 0.7%, while the S&P 500 and the Nasdaq gained 1.3% and 2.4%, respectively.
Investors are awaiting earnings results from Sally Beauty Holdings, Inc. SBH, Aramark ARMK, and Aramark HD today.
At a current reading of 40.7, the index remained in the “Fear” zone on Monday, versus a prior reading of 40.5.
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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