The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the “Greed” zone on Monday.
U.S. stocks settled mostly lower on Monday, with the Nasdaq Composite snapping a 13-session win streak during the session amid renewed U.S.-Iran tensions.
The U.S. Navy seized the Iranian cargo ship TOUSKA in the Gulf of Oman over the weekend, and President Donald Trump signalled that it’s “highly unlikely” he’ll extend the ceasefire with Iran, which ends tomorrow.
However, stocks recorded sharp gains last week, with the blue-chip Dow adding 3.2% and the S&P 500 surging 4.5%.
In earnings, shares of Cleveland-Cliffs Inc. (NYSE:CLF) fell more than 2% on Monday after the company reported results for the first quarter.
Most sectors on the S&P 500 closed on a positive note, with materials, financial and real estate stocks recording the biggest gains on Monday. However, communication services and health care stocks closed the session lower.
The Dow Jones closed lower by around 5 points to 49,442.56 on Monday. The S&P 500 fell 0.24% to 7,109.14, while the Nasdaq Composite fell 0.26% at 24,404.39 during Monday’s session.
Investors are awaiting earnings results from UnitedHealth Group Inc. (NYSE:UNH), General Electric Co. (NYSE:GE) and 3M Co. (NYSE:MMM) today.
What Is CNN Business Fear & Greed Index?
At a current reading of 69.9, the index remained in the “Greed” zone on Monday, versus a prior reading of 68.
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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