The CNN Money Fear and Greed index showed a further increase in the overall market sentiment, while the index remained in the “Greed” zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the Nasdaq Composite surging around 2% during the session as a wave of blowout AI earnings collided with a sharp slide in oil prices on hopes that Washington and Tehran are closing in on a deal to end the war.
In earnings, Kraft Heinz Co. (NASDAQ:KHC) reported upbeat earnings for the first quarter. Walt Disney Co. (NYSE:DIS) reported better-than-expected second-quarter financial results. Advanced Micro Devices Inc. (NASDAQ:AMD) reported better-than-expected first-quarter financial results and issued second-quarter sales guidance above estimates.
On the economic data front, private businesses added a net 109,000 jobs in April, recording the largest gain since January 2025. U.S. mortgage applications fell by 4.4% from the previous week in the final week of April.
Most sectors on the S&P 500 closed on a positive note, with communication services, information technology and industrials stocks recording the biggest gains on Wednesday. However, energy and utilities stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 612 points to 49,910.59 on Wednesday. The S&P 500 rose 1.46% to 7,365.12, while the Nasdaq Composite jumped 2.02% at 25,838.94 during Wednesday’s session.
Investors are awaiting earnings results from McDonald’s Corp. (NYSE:MCD), US Foods Holding Corp. (NYSE:USFD) and WW Grainger Inc. (NYSE:GWW) today.
What Is CNN Business Fear & Greed Index?
At a current reading of 68.3, the index remained in the “Greed” zone on Wednesday, versus a prior reading of 67.2.
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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