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The CNN Money Fear and Greed index showed some improvement in the overall sentiment among US investors.
US stocks moved higher on Monday after recording the worst week of 2023. US treasury yields eased, after moving higher on Friday following a hotter-than-projected data on the Fed’s preferred inflation gauge.
Union Pacific Corporation UNP shares dropped 10% on Monday after the company said it would name a new CEO in 2023 after hedge fund Soroban Capital Partners called for leadership changes.
The Dow closed higher by around 72 points to 32,889.09 on Monday. The S&P 500 rose 0.31% to 3,982.24, while the Nasdaq Composite gained 0.63% to settle at 11,466.98 during the session.
Investors are awaiting earnings results from Target Corporation TGT, AutoZone, Inc. AZO, HP Inc. HPQ and Advance Auto Parts, Inc. AAP today.
At a current reading of 61.0, the index remained in the “Greed” zone, compared to a previous reading of 59.0.
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.