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The CNN Money Fear and Greed index showed some easing in the fear level among US investors.
US stocks closed higher on Tuesday following a rebound in bank stocks. Investors also assessed the recent inflation data, which showed annual inflation rate in the US easing to 6% in February, the lowest level since September 2021, in line with market expectations, and versus 6.4% in the previous month.
The Dow closed higher by around 336 points to 32,155.40 on Tuesday. The S&P 500 rose 1.65% to 3,919.29, while the Nasdaq Composite added 2.14% to settle at 11,428.15 during the session.
Investors are awaiting earnings results from Babcock & Wilcox Enterprises, Inc. BW, Adobe Inc. ADBE and Tutor Perini Corporation TPC today.
At a current reading of 26.0, the index moved to the “Fear” zone, compared to a previous reading of 19.0.
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.