HomeMarket NewsSmall CapsInvestor Sentiment Improves Further, Nasdaq Hits New High

Investor Sentiment Improves Further, Nasdaq Hits New High

Actionable Trade Ideas

always free






Excitement in the Markets as Nasdaq Reaches Record Heights

A Positive Uptick in Investor Sentiment

image14

The market exuded optimism as the CNN Money Fear and Greed index showcased a continued movement towards β€œExtreme Greed” on Friday, reflecting a positive shift in sentiment.

Friday saw U.S. stocks finishing on a strong note, with the Nasdaq Composite hitting an unprecedented peak. The weekly performance highlighted a 1.74% surge in the Nasdaq and a 0.95% gain in the S&P 500.

NVIDIA Corporation NVDA experienced a 4% rise, while Meta Platforms, Inc. META added 2.5% on Friday. Furthermore, Dell Technologies Inc. DELL witnessed a remarkable 32% surge following its better-than-expected fourth-quarter financial results and a 20% boost in its annual cash dividend.

Despite a slight dip in the ISM manufacturing PMI to 47.8 in February from 49.1 in the previous month, and a decline in the University of Michigan consumer sentiment to 76.9, various sectors in the S&P 500 showed positive performance, notably energy, information technology, and real estate, with only utilities and financials facing a downward trend.

The Dow Jones, closing at 39,087.38 on Friday, witnessed a rise of approximately 91 points, while the S&P 500 surged to 5,137.08, reflecting a 0.80% increase. The Nasdaq Composite notably climbed to 16,274.94 during the session, painting a rosy picture for investors.

On the horizon are eagerly anticipated earnings announcements from Global Ship Lease, Inc. GSL, Commercial Vehicle Group, Inc. CVGI, AeroVironment, Inc. AVAV, and Stitch Fix, Inc. SFIX.

Maintaining its stance in the β€œExtreme Greed” region at 77.3 on Friday compared to the previous 76.9, the Fear & Greed Index continues to underscore the prevailing market sentiment.

What Can We Learn from the CNN Business Fear & Greed Index?

This index serves as a barometer of current market sentiment, highlighting the impact of fear and greed on stock movements. With seven equally weighted indicators, it spans from 0 to 100, with the extremes representing maximum fear and greed respectively.

Β 

Read Next: Top 3 Industrial Stocks That May Collapse This Quarter

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.