The CNN Money Fear and Greed index showed some easing in the overall fear level, while the index remained in the “Fear” zone on Monday.
U.S. stocks settled higher on Monday, with the Nasdaq Composite gaining more than 300 points during the session.
On Monday, President Donald Trump told CBS News in a phone interview that the U.S. campaign against Iran could be nearing its endpoint, saying Tehran’s military capacity has been heavily degraded.
Stocks recorded losses last week, with the S&P 500 losing 2% and the 30-stock Dow dropping 3%. The tech-heavy Nasdaq also declined 1.2% during the week.
In earnings, shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) gained around 5% on Monday after the company released results for the fourth quarter. Korn Ferry (NYSE:KFY) reported upbeat earnings for its third quarter.
Most sectors on the S&P 500 closed on a positive note, with communication services, health care and information technology stocks recording the biggest gains on Monday. However, energy and financial stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 239 points to 47,740.80 on Monday. The S&P 500 rose 0.83% to 6,795.99, while the Nasdaq Composite jumped 1.38% at 22,695.95 during Monday’s session.
Investors are awaiting earnings results from United Natural Foods Inc. (NYSE:UNFI), Kohls Corp. (NYSE:KSS) and Oracle Corp. (NYSE:ORCL) today.
What Is CNN Business Fear & Greed Index?
At a current reading of 27.3, the index remained in the “Fear” zone on Monday, versus a prior reading of 25.2.
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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