The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the “Fear” zone on Tuesday.
U.S. stocks settled higher on Tuesday, with the Nasdaq Composite gaining around 1.5% during the session.
Shares of Nvidia Corp. (NASDAQ:NVDA) rose 2.6%, while Advanced Micro Devices Inc. (NASDAQ:AMD) surged 7.7% on Tuesday.
The Dow jumped 8.9% during the first half of the year, recording its best first-half performance since 2021. The S&P 500 gained 9.6%, while the Nasdaq climbed more than 12%.
The S&P 500 climbed 14.9%, while the Nasdaq surged 21.4% in the second quarter, notching its biggest quarterly gains since the second quarter of 2020. The Dow also climbed 12.9%, notching its best quarter since the fourth quarter of 2022.
On the economic data front, the S&P Cotality Case-Shiller home price index rose 1.1% year-over-year in April, compared to a revised 0.9% gain in the previous month and topping market estimates. The Chicago Business Barometer declined to 56.7 in June compared to a reading of 62.7 in the prior month.
Most sectors on the S&P 500 closed on a negative note, with real estate, utilities and consumer staples stocks recording the biggest losses on Tuesday. However, information technology and industrials stocks were the top performers.
The Dow Jones closed higher by around 136 points to 52,319.20 on Tuesday. The S&P 500 surged 0.79% to 7,499.36, while the Nasdaq Composite climbed 1.52% to 26,213.72 during Tuesday’s session.
Investors are awaiting earnings results from General Mills Inc (NYSE:GIS), Factset Research Systems Inc (NYSE:FDS) and MSC Industrial Direct Co., Inc (NYSE:MSM) today.
What Is CNN Business Fear & Greed Index?
At a current reading of 31.3, the index remained in the “Fear” zone on Tuesday, versus a prior reading of 27.3.
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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