HomeMarket NewsMicro Cap Stocks Investor Sentiment Improves; Dow Jumps Over 150 Points Investor Sentiment Skyrockets as Dow...

Investor Sentiment Improves; Dow Jumps Over 150 Points Investor Sentiment Skyrockets as Dow Surges Over 150 Points!

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Investors were all smiles on Tuesday, as the CNN Money Fear and Greed index signaled an increase in overall market sentiment. The index, hovering in the β€œExtreme Greed” territory, set a positive tone for the day.

U.S. stocks put on a dazzling performance, with the S&P 500 edging closer to record levels. In fact, it’s less than 1% away from its record closing high of 4,796.56 touched in January 2022. The stock market also celebrated eight consecutive weeks of triumph, as the S&P 500 raced ahead.

Turning the spotlight to economic data, the Chicago Fed National Activity Index made a commendable leap to +0.03 in November from a revised reading of -0.66 in the previous month. Meanwhile, the S&P CoreLogic Case-Shiller 20-city home price index notched up a 4.9% year-over-year surge in October, marking its most significant jump since Nov. 2022.

RayzeBio, Inc. RYZB shares danced with joy, skyrocketing over 100% on Tuesday after the company announced its acquisition by Bristol Myers Squibb for $62.50 per share in cash, sealing a deal valued at a staggering $4.1 billion. Not to be outdone, Gracell Biotechnologies Inc. GRCL shares flaunted a 60% jump, following the announcement of their acquisition by AstraZeneca Plc AZN.

Under the glittering sky of the S&P 500, all sectors sparkled with positivity, particularly energy, real estate, and industrial stocks, which posted the most dazzling gains on Tuesday.

The Dow Jones staged a grand performance, closing higher by approximately 159 points at 37,545.33 on Tuesday. The S&P 500 seized the spotlight, rising 0.42% at 4,774.75, while the Nasdaq Composite stole the show with a 0.54% gain, closing at 15,074.57 during Tuesday’s session.

As the curtains drew for the day, investors eagerly awaited the earnings spectacle from Bridgeline Digital, Inc. BLIN.

With the index reading at a buoyant 79.1, the market remained embellished in the β€œExtreme Greed” zone on Tuesday, surpassing a prior reading of 78.5.

What is CNN Business Fear & Greed Index?

This impressive index serves as a measure of the current market sentiment, recognizing that higher fear applies pressure on stock prices, while heightened greed yields the opposite effect. Calculated based on seven equally-weighted indicators, the index flourishes on a scale from 0 to 100, where 0 showcases peak fear and 100 signifies maximum greediness.

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