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The CNN Money Fear and Greed index moved to the “Greed” zone on Friday after the Nasdaq closed lower by over 100 points on Monday.
Tyson Foods, Inc. TSN shares dropped 4.6% on Monday after the company reported worse-than-expected Q1 financial results.
The Dow closed lower by around 35 points to 33,891.02 on Monday. The S&P 500 dropped 0.61% to 4,111.08, while the Nasdaq Composite dropped 1% to settle at 11,887.45 in the session.
Investors are awaiting earnings results from BP p.l.c. BP, Chipotle Mexican Grill, Inc. CMG and Centene Corporation CNC today.
At a current reading of 75.0, the index moved to the “Greed” zone, compared to a previous reading of 76.0.
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.
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Image and article originally from www.benzinga.com. Read the original article here.