[ad_1]
The CNN Money Fear and Greed index moved to the “Extreme Greed” zone following coments from Federal Reserve Chair Jerome Powell.
US stocks closed higher on Tuesday as investors cheered Powell’s comments.
Bed Bath & Beyond Inc. BBBY shares dipped around 49% on Tuesday after the company announced a proposed $225 million offering of Series A Convertible Preferred Stock and warrants.
The Dow closed higher by around 266 points to 34,156.69 on Tuesday. The S&P 500 gained 1.29% to 4,164.00, while the Nasdaq Composite jumped 1.9% to settle at 12,113.79 in the session.
Investors are awaiting earnings results from The Walt Disney Company DIS, CVS Health Corporation CVS and Yum! Brands, Inc. YUM today.
At a current reading of 77.0, the index moved to the “Extreme Greed” zone, compared to a previous reading of 75.0.
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.
Read Next: Insiders Buying AmeriServ Financial And 2 Other Penny Stocks
[ad_2]
Image and article originally from www.benzinga.com. Read the original article here.