The CNN Money Fear and Greed index showed further improvement in overall market sentiment, while the index remained in the “Fear” zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the Dow Jones index gaining more than 360 points during the session.
On the earnings front, shares of Space Exploration Technologies Corp. (NASDAQ:SPCX) gained around 8% after the company reported a 161% surge in revenue for the third quarter. Thermo Fisher Scientific Inc. (NYSE:TMO) posted upbeat third-quarter results and raised its FY2026 forecast.
On the economic data front, U.S. mortgage applications tumbled 5.3% in the week ending Oct. 16, recording a seventh straight weekly decline.
Most sectors on the S&P 500 closed on a positive note, with information technology, industrials and financial stocks recording the biggest gains on Wednesday. However, communication services and real estate stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by over 360 points to 52,856.10 on Wednesday. The S&P 500 gained 0.58% to 7,757.17, while the Nasdaq Composite climbed 1.05% at 26,702.86 during Wednesday’s session.
Investors are awaiting earnings results from Lockheed Martin Corp (NYSE:LMT), Procter & Gamble Co (NYSE:PG) and American Airlines Group Inc (NASDAQ:AAL) today.
At a current reading of 32, the index remained in the “Fear” zone on Wednesday, versus a prior reading of 30.
What is CNN Business Fear & Greed Index?
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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