• Tue. Feb 27th, 2024

Investor Optimism Improves Further After US Stocks Notch Weekly Gains

ByLisa Levin

Jan 17, 2023
Investor Optimism Improves Further After US Stocks Notch Weekly Gains

The CNN Money Fear and Greed index showed further improvement in the overall sentiment among US investors.

US stocks closed higher on Friday following the release of earnings from big banks. The S&P and Nasdaq both recorded their second straight positive week, with the tech-laden Nasdaq climbing around 4.8% during the week.

JPMorgan Chase JPM, Wells Fargo & Company WFC and Wells Fargo & Company BAC released earnings results on Friday.

The Dow closed higher by around 113 points to 34,302.61 on Friday. The S&P 500 rose 0.40% to 3,999.09, while the Nasdaq Composite jumped 0.71% to settle at 11,079.16 in the previous session.

Investors are awaiting earnings results from The Goldman Sachs Group, Inc. GS, Morgan Stanley MS, and United Airlines Holdings, Inc. UAL today.

At a current reading of 63.0, the index remained in the “Greed” zone, compared to a previous reading of 57.0.

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: “ Xos And This Penny Stock Insiders Are Aggressively Buying



Image and article originally from www.benzinga.com. Read the original article here.