The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index moved to the “Fear” zone on Thursday.
U.S. stocks settled mostly lower on Thursday, with the Nasdaq Composite falling more than 1% during the session.
Nvidia Corp. (NASDAQ:NVDA) shares dropped more than 5%, despite the chip giant posting upbeat fourth-quarter earnings and revenue. Salesforce Inc. (NYSE:CRM) shares gained around 4% after the company reported better-than-expected fourth-quarter financial results. Hormel Foods Corp. (NYSE:HRL) reported mixed first-quarter FY26 results on Thursday.
On the economic data front, U.S. initial jobless claims rose by 4,000 from the previous week to 212,000 during the third week of February, compared to market estimates of 215,000.
Most sectors on the S&P 500 closed on a negative note, with consumer discretionary, information technology and communication services stocks recording the biggest losses on Thursday. However, industrials and financial stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 17 points to 49,499.20 on Thursday. The S&P 500 fell 0.54% to 6,908.86, while the Nasdaq Composite dipped 1.18% at 22,878.38 during Thursday’s session.
Investors are awaiting earnings results from Carter’s Inc. (NYSE:CRI), Global Partners LP (NYSE:GLP) and Delek Logistics Partners LP (NYSE:DKL) today.
What Is CNN Business Fear & Greed Index?
At a current reading of 44.4, the index moved to the “Fear” zone on Thursday, versus a prior reading of 45.8.
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.
Photo via Shutterstock
Recent Comments