The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the “Fear” zone on Thursday.
U.S. stocks settled mixed on Thursday, with the Dow Jones index surging to record highs during the session. The Nasdaq Composite, however, moved lower amid a decline in semiconductor stocks.
Major indices closed the holiday-shortened week with gains, as the S&P 500 rose 1.8% and the 30-stock Dow surged around 2% during the week.
Job growth cooled sharply in June, with payrolls rising just 57,000 — well below the 115,000 consensus and down from a revised 129,000 in May. April was also cut by 31,000, bringing combined revisions to a net minus 74,000.
The unemployment rate ticked down to 4.2%, but only because labor force participation fell to 61.5%, the lowest since March 2021.
Most sectors on the S&P 500 closed on a positive note, with health care, consumer staples and utilities stocks recording the biggest gains on Thursday. However, information technology and communication services stocks closed the session lower.
The Dow Jones closed higher by around 595 points to 52,900.07 on Thursday. The S&P 500 rose 0.01 point to 7,483.24, while the Nasdaq Composite dipped 0.80% to 25,832.67 during Thursday’s session.
What Is CNN Business Fear & Greed Index?
At a current reading of 31.9, the index remained in the “Fear” zone on Thursday, versus a prior reading of 32.6.
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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